Much Ado About Obiano’s MoUs (Part 4)
In our issue of June 4, 2017, we brought you the third part of our review of the MoUs signed by the Obiano administration, through the Anambra State Investment Promotion and Protection Agency (ANSIPPA).

We told you that the State Government had so far signed thirty-seven (37) MoUs. We also told you that of this number thirty-one (31), had become fully operationalized, while only about six were yet to become fully operationalized. We reviewed developments in around five of the MoUs, thus bringing to fifteen the number of Obiano’s MoUs so far reviewed.

Feedback from some of our readers say that we seem to have spent too much time reviewing these MoUs. We agree. Our original intention was to spend not more than one month in reviewing the thirty-seven MoUs.

In this edition, we bring you a quick review of ten of the MoUs, hoping to conclude the reviews in our next issue. We sincerely apologise to ANSIPPA and the investors we are going to be looking at today and in our next issue that we are unable to give them the time and space we gave to the earlier fifteen reviewed. We assure them that we will endeavor to give them more space and time as they make further progress.

Anambra Bonded Container Freight Terminal
The MoU for this project located in Ozubulu is for the establishment of a bonded container freight terminal was signed on December 8, 2016. The investment size is USD 17 million.

The project site has been cleared. Fencing to commenced first week of April 2017. We understand that formal groundbreaking will take place shortly.

Zolt Energy Limited
This MoU signed on October 6, 2016 is for the setting up of a 40MW embedded generation power plant on three hectares of land in Ogbaru.

We found out that the survey plan has been issued for processing of NERC license. Talks are presently ongoing with EEDC and gas providers. The investor has concluded financial arrangements to mobilize to site.


Shiraan Limited Nigeria
This MoU signed on February 12, 2016 is for the development and management of a 200,000 metric tons per year waste to energy plant that would generate 7.7MWH of electricity.

Located on three hectares of land at Ozubulu, the investor has moved to site.


Falcon Corp Ltd
This MoU to deliver and distribute natural gas for industrial utilization in the State was signed on January 16, 2015/

The investor has successfully secured gas sales agreement with off takers. There is presently a delay in securing gas supply source in Anambra State, but the investor is making alternative arrangements to secure gas supply.


Pinnacle Integrated
Signed on March 15, 2016, the MoU is for the construction of a $65.3m world class tourist center and Golf Resort Club and Estate.

We found out that financial arrangements have been concluded and survey plan issued to investor for land identification.

The project is scheduled to be formally flagged off between now and July 2017.


COTABS Engineering
This MoU signed on August 7, 2015 is for the construction of a $185.7m, 43 hectares housing estate at Amansea.

We found that 40% of the site had been cleared and that the formal groundbreaking ceremony will take place shortly.


Affordable Building Concept
The MoU for the construction of a $390m, 50 hectares housing estate in five different locations, including Awka, was signed on October 15, 2015.

We were told that the survey, layout and designs for the project have been completed.
However, we understand that the investor is re-evaluating the original financial model for the project.


Aldove Limited
Signed on June 27, 2016, this MoU is for the design and development of 300 housing units at Isiagu, Awka.

We understand that the Ministry of Lands is processing allocation of land to the investor.


Arut Development Ltd
This MoU signed on November 21, 2016 is for the construction of a housing estate in Awka Capital Territory.

We found that building designs have been approved by ACTDA. We also saw the land being cleared.


Cardinal Developers
One of the first set of MoUs signed by the Obiano administration, the MoU for the construction and development of residential hub in Onitsha and Awka, was signed on Novembern27, 2014.

We were told that the investor has obtained facility approval in principle from Afriexim Bank. We also understand that Afrexim Bank has given approval in principle for the investor to draw down funds.



QUICK FACTS ON ANAMBRA STATE
Established: 27 August 1991
Size: 4,844 km2 (0.5% of Nigeria’s land mass – 2nd smallest State in Nigeria)
Population (2015 est): 5,084,192; 10th most populous State in Nigeria
Economy (2015): ₦3.782tn ($13.4bn); Per capita: $2,637 (National: $2,640)
Contributes 2.78% to Nigeria’s GDP
1st in commercial trade volume in the SE (3rd in Nigeria after Lagos and Kano)
Largest commercial market in West Africa
Accounts for 35% of Nigeria’s merchandise trade and less than 5% of Nigeria’s foreign investment
Resources: Natural gas, Crude oil, Bauxite, Kaolin, Salt, Gypsum, Lead, Lignite, Limestone, Iron ore
98% arable soil for Oil palm, Corn, Rice, Yam, Cassava, Tomatoes, Fishing and Livestock farming.
Tourism: Ogbunike Cave, Agulu Lake, Ogbaukwu Caves and Waterfalls in Owerre-Ezukala
Anambra State has the lowest poverty rate in Nigeria.



Ka anyi gaba niru.






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I will be investigating all these in the coming months.