Mbah partners with agencies to raise Enugu’s IGR to $30B.

With the successful convening of the Enugu State Investment and Economic Growth Stakeholders Roundtable on Friday, the Enugu State Government took a bold step towards the actualization of a $30 billion economy within the next four to eight years.

Dr. Peter Mbah, the governor of the state, used the occasion, which was attended by prospective local and international investors, development financiers, and members of the diplomatic community, to unveil 30 investment opportunities worth over $2.1 billion, which he described as projects that would have a direct impact on the lives of the people and alter the economic fortunes of the state.

The State Governor, Dr. Peter Ndubuisi Mbah, Mbah, stated in his address that the event’s theme, “Leveraging Public-Private Partnerships,” highlighted the administration’s vision to accelerate sustainable economic transformation driven by the private sector.

He urged investors to consider Enugu as an investment destination of choice, stating that the state was taking deliberate steps to establish a friendly and risk-free business environment that would guarantee impressive returns on investment.

“The roundtable marks a new beginning for long-term partnerships and cooperation for shared prosperity, which will catalyse a sustainable, resilient, and prosperous Enugu,” he stated, assuring that Enugu would quickly regain its former glory.

Investors, development bankers, international development agencies, and other key stakeholders, including the UK government, the World Bank, AfriExim, AfDB, UK Department for Business and Trade, and Infrastructure Credit Guarantee Company, attended the event in large numbers.

The Governor added, “Enugu State will become Nigeria/South East’s most remarkable success story driven by industrialization and structural economic transformation, responsible public financial management, robust trade and investment growth, and sustainable and inclusive infrastructural development.

The magnitude of our transformation goal requires a shift away from the current dominant public sector model and towards policies and business environment reforms that will attract more private sector and African diaspora participation in financing and delivering infrastructure and services in critical economic areas.

We are no longer satisfied with the status quo, so we are presenting a pipeline of 30 potential project opportunities with an estimated investment value of more than 2.1 billion dollars. “My vision is to transition the state from public to private investment-led growth, which will eventually close our physical and social infrastructure gap, create hundreds of thousands of jobs…Mbah said, “We know that our goals for economic transformation are challenging, but they are attainable, and my government is resolute in its commitment to deliver on the promise we made to Ndi Enugu” while presenting the State’s Integrated Sector-Based Productivity Growth Strategy, which outlines a path to $30 billion GDP growth.

Prof. Chidiebere Onyia, Secretary to the State Government, presented strategic sector opportunities and indicative projects in transport and logistics, agriculture, energy and minerals, healthcare, eco-tourism and hospitality, aviation, and ICT.

In attendance, Deputy British High Commissioner to Nigeria Jonny Baxter praised the Dr. Mbah administration for organising the discussion.This roundtable discussion is to learn and engage in the state’s development goals and position it as one of Africa’s centres through tapping investment opportunities.

The project prioritises cashew, coconut, and plantain planting in Enugu and other South Eastern States. I would love to encourage UK shoppers to look for Enugu-produced cashew nuts. Cocoyam, another state product, is a priority.

“We are all working together to realise the state’s huge economic potential. I hope the UK and Enugu State can invest and trade together, he remarked.

The World Bank Country Director for Nigeria, Shubham Chaudhuri, praised the roundtable as a manifestation of Mbah’s vision to alter Enugu’s economy. Without private-sector investments, job creation and sustained economic growth and development were impossible.

Afrexim Bank Regional Chief Operating Officer Eric Intong said the financial institution would help the Enugu State government prepare projects to ensure their success and trade with the state.