TheCable

Peter Mbah, governor of Enugu state, has assured the local and international investment community of abundant investment opportunities in the state.

Mbah spoke on Tuesday at the ongoing 2023 Lagos Chamber of Commerce and Industry (LCCI) international conference and expo.

He said the state is making progress in de-risking investment and making its ease of doing business more attractive.

The governor highlighted the state’s abundant investment opportunities in agriculture and agro-industry, logistics and aviation, tourism, real estate, mineral resources, and information and communication technology (ICT). 

Mbah said his administration is focused on a paradigm shift from “the traditional model of relying on allocations from the federation account”, as the state’s future and new growth plan is based on leveraging its extensive human and material resources.

Recalling the discovery of coal in Enugu in 1909 and the construction of the railway to power the European and national economy, the politician said his administration is building partnerships with the private sector to unlock the capital market, attract investments, and retake its place in the local and global economy.

“Enugu is now open for business. We are markedly revisiting our ‘ease of doing business’ indicators to ensure the environment is conducive for business. For example, our new land title processes will facilitate the issuance of Certificate of Occupancy in not more than three days or 72 hours,” he said.

“Processes for the procurement of building approvals will also be revisited and markedly reduced to achieve improved efficiency.

“We are automating all our major government processes to ensure transparency in all aspects of engagement with government and facilitate self-service by the public with little or no need for physical engagement with public servants.

“We are also willing to de-risk business investment in key sectors by providing access to land, providing support infrastructure, handling engagement with host communities, among others.”

ENUGU TO PROVIDE 300,000 HECTARES OF FARMLAND FOR AGRO-INVESTMENT

In the area of agriculture and agro-industry, Mbah said the state was positioned to benefit from “proven strong factor productivity” in several crucial areas of agriculture by making 300,000 hectares of farmland available for the raising of target crops and livestock.

These focus crops and animal production opportunities, he said, include cassava, soya beans, oil palm production, and cashew.

He added that the global market size of the products is projected to hit $7 billion by 2025.

“In the area of logistics and aviation, we are investing extensively in our logistics and aviation sector to make transit through and to Enugu efficient and seamless,” the governor said.

“To achieve this, we are prioritising development of a cargo terminal for the Enugu International Airport to facilitate the direct receipt of cargo in Enugu as opposed to the current practice of shipping into Lagos airport and then undertaking the arduous and expensive overland journey to the South East by truck.

“The terminal will also facilitate the export of agro-produce direct from Enugu”.

Mbah said a survey showed that about 40 percent of Lagos-bound air cargo was destined for the south-east and south-south, thus making investments in logistics and aviation quite lucrative.