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Governor Mbah goes to the Lagos Chamber of Commerce conference in 2023,… attracts business to Enugu

Aug 30, 2023 | International | 0 comments

Enugu State Governor Peter Mbah guaranteed the local and international investment community plentiful investment prospects, stating that the state was rapidly de-risking investment and improving its ease of doing business.

Governor Mbah said his administration was focused on a paradigm shift from “the traditional model of relaying on allocations from the Federation Account” to leverage the state’s extensive human and material resources in agriculture and agro-industry, logistics and aviation, tourism, real estate, mineral resources, and information and communication technology (ICT).

Mbah announced this on Tuesday at the 2023 Lagos Chamber of Commerce and Industry (LCCI) 2023 International Conference and Exhibition, which drew foreign investors and community members.

Mbah said his government was partnering with the private sector to unleash the capital market, attract investors, and reclaim its role in the local and global economy. He recalled the discovery of coal in Enugu in 1909 and railway development to power the European and national economies.

“Enugu is open for business. We are revising our ‘ease of doing business’ metrics to ensure a business-friendly environment. For instance, our new land title procedures will provide a Certificate of Occupancy in three or 72 hours.

“Building approval processes will be examined and significantly shortened to increase efficiency.

We are automating all important government procedures to promote openness in government involvement and enable public self-service without public personnel.

Governor said, “We are also prepared to de-risk corporate investment in important industries by giving access to land, support infrastructure, and host community participation, among others”.

Governor Mbah said the state was “positioning to take advantage of our demonstrated high factor productivity in the areas of several important sectors of agriculture by opening up additional 300,000 hectres of farmland for cultivation of focus crops and animal production” in agriculture and agro-industry.

These main crops and animal production potential include cassava, soybean, oil palm, and cashew, which he claimed to have a $7bn worldwide market by 2025, and Nsukka pepper, which he called “a true export commodity as well as an industrial raw material for different spice brand”.

He said poultry, piggery, and fishing businesses were plentiful, and Enugu’s location as the North’s gateway attracted agro-processing projects.

Dr Mbah highlighted that 40% of Lagos’ air freight was bound for the South East and South, making logistics and aviation investments viable.

We are investing heavily in logistics and aviation to make travel through and to Enugu smooth and seamless.

To accomplish this, we are prioritising the establishment of a cargo terminal for Enugu International Airport to allow direct cargo reception in Enugu instead of shipping into Lagos Airport and then trucking to the South East. The facility would enable Enugu-direct agro-exports.

He also cited potential prospects for light rail projects in partnership with other South East governments and sophisticated logistics centres at Obollo Afor and Ninth Mile Corner.

The Governor also highlighted tourist prospects, including restoring and reactivating the Presidential Hotel, Enugu, and finishing the International Conference Centre, and real estate opportunities, including building a New Town with 60,000 home living spaces.

Governor Mbah also said the administration was working with the federal government to recruit investors to produce natural gas, crude oil, and plentiful solid minerals such as ironstone, zinc, lead, limestone, and kaolin.

He also mentioned IT investment prospects, which the government prioritised.

Recall that the Enugu State Government launched the first Investment and Economic Development Stakeholders Roundtable on Monday, where the Governor would disclose a $2.1 billion project pipeline to local and foreign investors on September 1.

The LCCI praised Mbah for restoring security in Enugu State and halting the unlawful Monday sit-at-home.

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