Sunday, March 18, 2012

Fitch Rates A/Ibom High in Infrastructure, Security, Others

13 March 2012

FITCH, an international rating agency in London, United Kingdom and Milan, Italy, has given Akwa Ibom State a pass mark in the areas of infrastructural development, security, and financial transparency.

The agency also scored the state high on prudent management of oil resources in its latest report.

The chairperson of the committee, Guido Bach, who doubles as senior director of the agency, said the state got the high ratings because 'the administration continues to prioritise projects that will foster social and economic growth and create job opportunities with the presence of international airport, entertainment centre, power projects and a refinery seaport.'

The agency said the state government reversed the former outlook of the state characterised by restiveness to stability in the last couple of months, noting that in comparing the state to others in the Niger Delta, it ranks high in peace and security.

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