Public Corporations and Socio-Economic Development in Akwa Ibom State: A Study of Ibom Air

This study examined the influence of Ibom Air, as a public corporation, on the socio-economic development of Akwa Ibom State. The study used both descriptive and survey designs on a sample size of 400 extracted from the population of 7,451,690, being the projected population of Akwa Ibom State. Using the simple random sampling technique, data collected from primary and secondary sources were analysed for simple regression with the SPSS statistical tool. Findings revealed that there is a correlation between the operation of Ibom Air and tourism development, as well as a significant influence of the corporation on the growth of small and medium-scale enterprises (SMEs) in Akwa Ibom State. However, the study observed that Ibom Air’s achievements are vitiated by its narrow operational scope within Nigeria, with only a single international route, which restricts its ability to expand its reach and impact. Additionally, the airline has not made substantial contributions to community development, highlighting limitations in fulfilling its role as a public corporation. The study therefore recommended that, among other measures, Akwa Ibom State Government and the Management of Ibom Air should review the company’s corporate social responsibility (CSR) policy to ensure it aligns with community development goals and also establish a community development fund to support projects and initiatives that benefit local communities to enhance community development.