Anambra government has said it has secured investment funding and strategic partnership of over $500 million from the various agreements signed at the end of the second edition of its investment summit held on November 14, 2024.
The summit had the theme “Changing Gears: Accelerating Anambra’s Economic Transformation” with development partners, financial institutions, captains of industry, and government officials in attendance to discuss investment opportunities in the state.
Mr Mark Okoye, Managing Director of Anambra State Investment Promotion and Protection Agency (ANSIPPA) who gave the post summit summary on Sunday said the state was poised to become a leading economic hub in Nigeria.
Okoye said Anambra secured $250million from Afreximbank in 2023 to finance infrastructure for its major projects including Anambra Mixed-Use Industrial City (AMIC): masterplan, Anambra Intra-City Rail among others.
“AMIC is positioned to catalyse industrialization in the region, with a strong focus on import substitution, exports, and innovation driven development”, he said.
He said AMIC masterpan was already completed and awaiting groundbreaking while route selected had been completed for intra-city rail project while the Awka shopping mall was on track for completion in the second quarter of 2025.
He said Anambra was partnering UNDP to establish maker’s space, a hub for technology and entrepreneurship while agreements were reached with Genesis Energy and VFD Energy to develop Independent Power Plants.
“Afreximbank has committed up to $200 million for project execution, along with feasibility studies, capacity building programmes, and post-project assistance.
“The African Development Bank is supporting critical infrastructure, including major roads, fencing, and signature gates for the Special Agro-Processing Zone within AMIC.
“Solar Energy is being deployed in underserved areas of Anambra and public-private-community collaboration is in progress for potable water project.
“We are expanding the automotive industry with an assembly plant for dual fuel vehicles at Umunya. while NKO Farms is establishing agro-processing facilities for export-focused production
“Effort is underway to operationalise the Onitsha River Port and facilitate trade as well as develop the Onitsha New City project,” he said
Okoye said the Governor Chukwuma Soludo’s administration was dedicated to transforming Anambra into a livable and prosperous smart megacity, creating investor friendly climate which would foster industrial growth, and promote sustainable development
He said the measures included ease of doing business reforms, diversification of the economy across agriculture, healthcare, energy, and tourism as well as encouraging public-private partnerships for long-term sustainability.
On the issue of energy challenge, Okoye said a firm was establishing a ₦200 billion infrastructure fund to support pipelines and IPPs to ensure reliable electricity for industrial zones, major markets and gated residential areas.
Okoye said investment commitments were also made in healthcare, tourism/hospitality, natural gas network and urban development:
According to him, Anambra holds 30 trillion cubic feet of natural gas, representing approximately 15 percent of Nigeria’s total reserves, we plan to develop backbone gas pipelines with partnerships to maximise gas distribution efficiency.
“We have agreements to build a specialized cancer treatment facility, management of Awka Interbatiinal Convention Centre, revitalisation of Agulu Lake Hotel and development of a statewide gas distribution system.
“With over $500 million in funding commitments and strategic partnerships, Anambra is poised to become a leading economic hub in Nigeria, we invite investors, and development partners to join this transformative journey,” he said.