Enugu State Government on Friday, began the process of boosting its’ commerce, industry, and trade through its Enugu Investment Roundtable.
The theme of this roundtable, “Leveraging Public Private Partnerships” was purposefully chosen to align with governor Peter Mbah administration’s vision to accelerate sustainable economic transformation with the private sector at the helm.
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Therefore, this roundtable today marks a new beginning for long-term partnerships and cooperation for shared prosperity, which will catalyse a sustainable, resilient, and prosperous Enugu state.
Addressing participants at the roundtable investment summit, governor of Enugu state, Peter Ndubuisi Mbah recalled that Enugu State had historically led South-eastern peers in economic performance and served as the de facto capital of the region.
“Prior to the civil war, Enugu’s rich coal mines were the engine of the nation’s economy. Our abundant mineral resources supported a thriving iron and steel industry in Enugu, while our limestone deposits enriched cement plants, and the automobile manufacturing industry
continues to thrive in our state“. Mbah noted.
“Enugu’s fertile lands have blessed us with rich palm plantations and the best cashew species in Nigeria. Cotton and sorghum
grow on our fertile lands, and our Ose Nsukka can be found in almost every
Nigerian home.
“Our state lends itself naturally to
ecotourism. You will find the best ecotourism sites as well as a variety of historic and recreational sites here. From the Udi Hill, from which the majority of Enugu can be seen, to mysterious caves and waterfalls, and potential conservation
centres such as the Pine Forest and the 2,500-hectare Milliken Forest reserve.
“Enugu’s start-up ecosystem currently ranks fourth in Nigeria and ninth in West
Africa, and the state is home to six (6) fully accredited universities. Because of our vast natural gas reserves, Enugu bears the responsibility of playing a critical role in ensuring Nigeria’s just green economy transition”. The governor said.
Enugu State is the beating heart of Southeast Nigeria and a vital trade and investment gateway into the region. Enugu State is the natural gateway between the South-eastern region, Northern Nigeria as well as the rest of Africa.
Enugu is a market brimming with potential and opportunities, thanks to these unique blends of competitive advantages.
“I want you all to realize that Enugu has all the characteristics of an industrial city. My administration’s mission is to make Enugu the preferred destination for investment, business, tourism and living. Our core mandate is to restore Enugu’s lost glory, to fully realise the state’s latent potential, and to transform Enugu into an industrial and innovation powerhouse.
“Enugu State will become Nigeria/South East’s most remarkable success story driven by industrialization and structural economic transformation, responsible public financial management, robust growth in trade and investment, and sustainable and inclusive infrastructural development.
“Our vision is to make Enugu one of the top three revenue-generating states in Nigeria, to attain a 0% poverty headcount rate, and to ensure peace and security in the sprint to grow Enugu to a $30 billion GDP economy in the next 8 years. This vision emphasises inclusive economic growth and sector competitiveness, sustainable economic, social, and environmental resilience for all citizens, and
the restoration of peace and security for people, property, and critical economic and social processes”. Mbah said.
Before discussing how his administration plans to implement its integrated
sector strategy, the governor briefly discuss his deliberate efforts to ensure Enugu is safe and secure.
“Upon taking office, we issued a directive that banned the so-called Monday sit-at-home. We’vesince improved security across the state and are currently working with my colleagues in the other Southeast States to strengthen our security strategy.
“We have put in place a security architecture that is both proactive and integrative because we recognise how important security is to investor decisions to come to our state. To ensure the longevity and resiliency of our security intervention, we are putting the finishing touches on the establishment of the Enugu State Security Trust Fund”. Mbah noted
The governor lamented that for more than 20 years,
residents’ biggest problem has been getting access to water, which has put a heavy financial burden on them.
“From the current level of 2,000 cubic metres,
we have produced 20,000 cubic metres of water so far. We aim to produce 60,000 cubic metres and reticulate it to every home before my 180 days in
office.
As part of our social sector strategy, we will actively modernize our water resource systems to guarantee that both urban and rural residents have access to clean water and sanitation facilities.
“Our goal is to combat poor health outcomes and malnutrition at the primary school level through school meal plus and immunisation programmes, provide free and excellent secondary education, vigorously promote and support vocational and technical education, and champion the welfare of teachers, who are crucial to the success of our educational system.
“We cannot overstate the importance of ICT as a key driver of the economic transformation objective under this administration. This administration’s vision is to increase broadband internet availability, establish ICT and tech clusters, build a tier 4 hyperscale commercial data centre, implement structured ICT education in primary, secondary, and tertiary institutions, and increase skill acquisition in four areas of interest: fintech and digital finance, IT services, cyber security, and e-commerce” Mbah noted.
Meanwhile, final Doing Business Index report ranked Enugu as the 9th best state in the
nation for the process, time, and cost of registering a property, and as the 3rd best state in the nation for the process, time, and cost of starting a business.
“We have begun tackling significant issues with the business-enabling environment under the direction of the World Bank’s State Action on Business
Enabling Reforms (SABRE), including a review of the State’s land administration and land investment process, our public-private partnerships (PPP) policy framework, and frameworks and services for investment promotion.
“The state has invested in a Geographic Information System (GIS) platform, and we are currently streamlining the state’s tax and land administration systems. We will
open a one-stop investment centre in the coming weeks, to ensure that services
for investment support are quick, easy, and efficient. Enugu State will issue C of
O’s within 72 hours”. The governor noted.
The roundtable attracted the British Deputy High Commissioner to Nigeria, Jonny Baxter, World Bank Nigeria Country Director, Shubham Chaudhuri, the Regional Chief Operating Officer, African Export-Import Bank, (AfriExim) and Chief Economist and Vice President African Development Bank (AfDB), Prof Kevin Urama.
Others are the Deputy Director, Investment – United Kingdom Department for Business and Trade, Morayo Adekunle, Chief Executive Officer, Infrastructure Credit Guarantee Company, Chinua Azubuike, among other investment partners.
End.
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