Enugu’s $30 billion economy plan gets support from UK, World bank and more

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Enugu's $30 billion economy plan gets support from UK, World bank and more
Enugu's $30 billion economy plan gets support from UK, World bank and more

The Enugu State Government embarked on a significant endeavor to actualize its ambition of building a $30 billion economy within the next four to eight years.

The state successfully hosted its inaugural Enugu State Investment and Economic Growth Stakeholders Roundtable.

During this event, the administration, led by Governor Dr. Peter Mbah, unveiled 30 investment opportunities valued at over $2.1 billion.

Enugu’s economic transformation gains global support at roundtable

These projects are expected to directly impact the lives of Enugu’s residents and transform the state’s economic prospects.

The roundtable attracted a diverse array of participants, including investors, development bankers, international development agencies, and stakeholders like the Government of the United Kingdom, the World Bank, African Export-Import Bank (Afrexim), African Development Bank (AfDB), and others.

Governor Mbah emphasized the theme of the event, “Leveraging Public-Private Partnership,” highlighting the administration’s vision to accelerate sustainable economic transformation driven by the private sector.

He urged investors to consider Enugu as a favorable investment destination, assuring them of a business-friendly environment and promising returns on investment.

Mbah articulated his vision to shift from a predominantly public sector-led growth model to one fueled by private investment, with the goal of closing infrastructure gaps, creating jobs, and ultimately propelling the state’s economy towards the $30 billion target.

The event also showcased Enugu State’s Integrated Sector-Based Productivity Growth Strategy, a roadmap outlining the path to achieving the ambitious GDP growth goal.

This strategy encompasses key sectors such as transport and logistics, agriculture, energy and minerals, healthcare, eco-tourism and hospitality, aviation, and Information Communication Technology (ICT).

International representatives, including the Deputy British High Commissioner to Nigeria, Jonny Baxter, and the World Bank Country Director for Nigeria, Shubham Chaudhuri, lauded the initiative and underscored the importance of private-sector investments in driving job creation and sustainable economic growth.

Afrexim Bank expressed its readiness to support the Enugu State government in project preparation and trade collaboration, further emphasizing the commitment of various stakeholders to transform Enugu’s economic potential into a prosperous reality.