Amid a capacity filled hall of entrepreneurs and diplomats, Enugu State Governor, Peter Mbah, yesterday unveiled the state’s economy to private sector investors, stressing that his administration was desirous to make the much-needed structural reforms that would put the state on the path to economic transformation.

Mbah told a galaxy of investors that included British Deputy High Commissioner, Jonny Baxter; Country Director, African Development Bank Group, Lawin Barrow and Regional Chief Operating Officer, African Export Import Bank, Eric Monchu, among others, that Enugu is bankable, secure and safe for investment, urging them to invest in the state.

He said: “Investing in Enugu is a sound business decision and a sustainable strategy. Our economic growth prospects are among the best in Nigeria, our youth with a 90 per cent literacy rate form a formidable market, and our large natural resource deposits promise a bright future for developing value chains.”

I invite you to actively participate in Enugu’s development agenda and to forge long-term bilateral and multilateral alliances for mutual prosperity.

“We have the talent base to build our new economy. We have ecosystems of young people here who understand software, who understand what it means to think about technology and innovation. We will invest in the local talent to build our infrastructure ensuring that we train, attract and retain young people who will develop everything from the welding used for our roads, bridges, ports, to the structure and materials for our buildings. From natural gas to limestone and laterite, Enugu has the resources to build and power resilient transportation and ICT infrastructure.

“Working in partnership with you, we will identify the key bottlenecks to private sector development and investment in the state, and we will implement the policy, legal and regulatory environment reforms required to make your investment and business ventures in Enugu a success. Enugu State will fully support domestic and international partners looking to expand their presence in the state.”

Mbah noted that his administration was willing to invest over N2 trillion in critical infrastructure, explaining that on taking his oath office in May this year, he promised provision of water to residents in the first 180 days.
He added: “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 distribute it to every home before my 180th day in office.”

He noted that private investment was a key driver of long-term economic growth and prosperity, adding that his administration was firmly committed to fostering a business-friendly environment through targeted incentives, effective security measures and transparent, convenient and effective governmental services.

The governor, who took the gathering through memory lane about resources in the state, noted that the state has always played an important role in Nigerian history, having emerged as one of the three multi-cultural melting pots (along with Lagos and Kaduna states) on which the newly independent Nigeria was built.

“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. Enugu’s fertile lands have blessed us with rich growth on our fertile lands, and our Ose Nsukka can be found in almost every Nigerian home.

“Enugu has a wealth of human and natural capital to drive inclusive growth and the transition to a green economy in Nigeria. 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 reserves,” he said.

He added that Enugu has the potential to be a leader in the clean industries of tomorrow, explaining that the goal of his government was to move the state from its current N4.4billion GDP to N30 billion GDP in the next eight years.