Akwa Ibom Investment and Industrial Promotion Council (AKIIPOC) and the Challenges of Privatization Exercise in Akwa Ibom State.

Abstract

The government and people of Akwa [born State in a bid to join the global trend for rapid economic development has ear-marked some poorly performing industries for privatization. It has been argued that, the private-sector driven economy has encouraged rapid and sustainable development through mass employment of the citizenry, use of local raw materials, availability of needed goods, as well as expansion in other economic activities. Akwa lbom State government over the years, has been experiencing dwindled resources especially, from those industries/ parastatals that are hitherto owned by the public. With the near collapse of some of these industries, the State Government sets Up AKLIPOC, as an agency, to resuscitate those ailing industries. The role, successes and eh allenges of th is agency therefore arouses the interest of this study.