Namadi Sambo, vice-president, says the federal government has made big business from agriculture by reducing the cost of food import. At the last count, he said the country had saved $2 billion. He stated this during the official opening of Lifetime Africa Achievement Prize Economic Forum in Uyo, Akwa Ibom State. According to Sambo, the federal government started by encouraging the production of between 1.5 million and 2 million tonnes of rice locally.

“The president has privatized power supply and we hope that between 2018 and 2020, Nigeria will produce about 20,000 megawatts for transmission. The Federal Government has established 12 new functional universities in the country to address specific areas of development,” he said.

The vice president disclosed that the federal government had released a takeoff grant of N220 billion to support small medium enterprises in the country. He commended Godswill Akpabio, governor of Akwa Ibom State, for hosting the foundation, which coincided with the celebration of 100 years millennium goal and its 54th independence anniversary. “I also thank you for transforming the state through such major infrastructure such as roads, airport, seaport, security, health and education, among others,” he said.

James Gbeho, president of Millennium Excellence Foundation, said the forum was meant to generate ideas for the development of Africa. He said the choice of hosting the forum in Uyo was to showcase the achievements of Akwa Ibom and to let the world have a glimpse of infrastructure development for others to emulate.