BUSINESS NEWSEnyimba Economic City: A tale of N500 billion and 625,000 jobs
Earlier in the month, Governor of Abia State, Dr Okezie Ikpeazu took a major step towards actualising the vision of the Enyimba Economic City.

Published 6 months ago on November 25, 2019By CSL Stockbrokers Enyimba Economic City: A tale of N500 billion and 625,000 jobs
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Wealth.ng
Earlier in the month, Governor of Abia State, Dr Okezie Ikpeazu took a major step towards actualising the vision of the Enyimba Economic City (EEC). At the second edition of the AfDB led Africa Investment Forum (AIF), the governor secured US$430 million funding for the economic city. This came a month after the team that pitched the Enyimba Economic City at the Charter Cities Institute defeated projects from Russia and Australia to claim the US$25,000 funding as well as partnership with the institute.

The EEC is Dr Ikpeazu’s vision to actualise and aid the already present innovative, manufacturing and entrepreneurial culture of the citizens of Abia state and the South East as a whole. The city of Aba (the location of the EEC) located in Abia state popularly dubbed the “China of Africa” is a city known for its craftmanship in iron and leather works. However, the city has not enjoyed any form of coordinated support to assist entrepreneurs and SMEs within the city groom their businesses. The dearth of infrastructure such as good roads, water resources, power and environmental cleanliness facilities have limited the growth of the commercial hub.

BUSINESS NEWSEnyimba Economic City: A tale of N500 billion and 625,000 jobs
Earlier in the month, Governor of Abia State, Dr Okezie Ikpeazu took a major step towards actualising the vision of the Enyimba Economic City.

Published 6 months ago on November 25, 2019By CSL Stockbrokers Enyimba Economic City: A tale of N500 billion and 625,000 jobs
SHARETWEET
Wealth.ng
Earlier in the month, Governor of Abia State, Dr Okezie Ikpeazu took a major step towards actualising the vision of the Enyimba Economic City (EEC). At the second edition of the AfDB led Africa Investment Forum (AIF), the governor secured US$430 million funding for the economic city. This came a month after the team that pitched the Enyimba Economic City at the Charter Cities Institute defeated projects from Russia and Australia to claim the US$25,000 funding as well as partnership with the institute.

The EEC is Dr Ikpeazu’s vision to actualise and aid the already present innovative, manufacturing and entrepreneurial culture of the citizens of Abia state and the South East as a whole. The city of Aba (the location of the EEC) located in Abia state popularly dubbed the “China of Africa” is a city known for its craftmanship in iron and leather works. However, the city has not enjoyed any form of coordinated support to assist entrepreneurs and SMEs within the city groom their businesses. The dearth of infrastructure such as good roads, water resources, power and environmental cleanliness facilities have limited the growth of the commercial hub.

UBA ADS
Governor Ikpeazu last year announced plans to build the EEC which would connect all the 5 South-Eastern states as well as the 4 South-South states bordering the city and operate as a Free Trade Zone. The 9,803-hectare EEC is located strategically near existing seaports in Onne and PortHarcourt while having good proximity to the proposed Akwa Ibom Deep Sea Port. Furthermore, it is located along key rail lines of PortHarcourt and Maiduguri giving it a major connection to Northern states.

BUSINESS NEWSEnyimba Economic City: A tale of N500 billion and 625,000 jobs
Earlier in the month, Governor of Abia State, Dr Okezie Ikpeazu took a major step towards actualising the vision of the Enyimba Economic City.

Published 6 months ago on November 25, 2019By CSL Stockbrokers Enyimba Economic City: A tale of N500 billion and 625,000 jobs
SHARETWEET
Wealth.ng
Earlier in the month, Governor of Abia State, Dr Okezie Ikpeazu took a major step towards actualising the vision of the Enyimba Economic City (EEC). At the second edition of the AfDB led Africa Investment Forum (AIF), the governor secured US$430 million funding for the economic city. This came a month after the team that pitched the Enyimba Economic City at the Charter Cities Institute defeated projects from Russia and Australia to claim the US$25,000 funding as well as partnership with the institute.

The EEC is Dr Ikpeazu’s vision to actualise and aid the already present innovative, manufacturing and entrepreneurial culture of the citizens of Abia state and the South East as a whole. The city of Aba (the location of the EEC) located in Abia state popularly dubbed the “China of Africa” is a city known for its craftmanship in iron and leather works. However, the city has not enjoyed any form of coordinated support to assist entrepreneurs and SMEs within the city groom their businesses. The dearth of infrastructure such as good roads, water resources, power and environmental cleanliness facilities have limited the growth of the commercial hub.

UBA ADS
Governor Ikpeazu last year announced plans to build the EEC which would connect all the 5 South-Eastern states as well as the 4 South-South states bordering the city and operate as a Free Trade Zone. The 9,803-hectare EEC is located strategically near existing seaports in Onne and PortHarcourt while having good proximity to the proposed Akwa Ibom Deep Sea Port. Furthermore, it is located along key rail lines of PortHarcourt and Maiduguri giving it a major connection to Northern states.

Enyimba Economic City: A tale of N500 billion and 625,000 jobs
The economic city would be built with its independent inland port as well as airport while it would be constructed as a business hub, work, live, learn and play city. In addition, the city is expected to have independent 24/7 power supply from power substations to be constructed in the city. Abia state is in partnership with Ruyi Group (the largest textile manufacturer in China) as well as Geometric Power Company on the construction of the power plants for the city.

GTBank 728 x 90
The Federal Government is also weighing in on the project with its own equity contribution. The US$430 million funding secured by the governor at the AIF would be used to onboard the first phase of the project. The project is expected to create over 625,000 jobs over the next 10 years while gulping over N500 billion (US$1.4 billion) upon completion.

[READC MORE: Nigeria’s GDP picks up to 2.28% y/y in Q3-19]



We consider this project a landmark one for the state and Nigeria as a whole as it would provide a major boost to the development of manufacturing and industrialisation in Nigeria. While the project is privately led and appears adequately thought out, we are concerned about it going the way of similar projects in the past that have since gone under the radar.

The biggest example would be the TINAPA business and leisure resort which was conceived under a Public-Private Partnership agreement floated by the Cross River government and opened in 2007 but has since been abandoned mainly due to unfavourable government policies, high operating costs and disagreements between the operators and regulators. One would, however, hope that the Abia state government would have lots of lessons to learn from the failure of TINAPA. Nevertheless, the Enyimba Economic City may just be another major breakthrough for industrial development in Nigeria.



https://www.youtube.com/watch?v=L6azcysXjvM

Murphy you can only deceive yourself

More images of Enyimba Economic city

Lalasticlala mynd44 front page

Nigeria: Enyimba Economic City - U.S.$430 Million, 700,000 Jobs Coming to Abia

The game is changing in Abia State, thanks to a man of vision, Dr. Okezie Ikpeazu and the support of the federal government of Nigeria. Enyimba Economic City (EEC) was among 52 investment deals that sailed through at the recently concluded Africa Investment Forum (AIF) held in Johannesburg, South Africa.

Consequently, Abia State Governor, Dr. Okezie Ikpeazu, secured the go-ahead of the African Development Bank (AfDB) and a consortium of private investors and multilateral financial institutions for the investment of $430 million to fast-track the development of EEC- a pet project of the governor.

The news is a big deal for Abia State and for Nigeria in general. The proposed city has all the ingredients of a great economic hub. In a post on the website of the Infrastructure Concession Regulatory Commission (ICRC) the project is described as having the potential to drive massive economic expansion of the Southeast region and by extension Nigeria.

Chino somalianprince spacetour come and break kolunut in this thread.

With which roads abi dey will buy boats for dey bad roads

I don't want to talk

ChimaAdeoye:


Although i seriously pray for this project to somehow materialize, i don't know why i can't get myself to seriously trust any infrastructural program under Okezie Ikpeazu's Abia.

While it is clear that many SE governor are focused on creating a legacy that lives after them, i don't see that type of mindset in Gov. Okezie Ikpeazu. Like the two Orjis that came before him that concerned themselves with primitive wealth accumulation, i think Okezie is simply there to look out for his pocket. Any talk about leaving an enduring legacy is total bunkum to Gov Okezie Ikpeazu.

Well time shall tell...let's give okezie the benefit of doubt..I'm from umuahia myself , same place with T.A orji but I prefer ikpeazu to him because I firmly believe okezie won't disappoint

Okpallaanambra:


Well time shall tell...let's give okezie the benefit of doubt..I'm from umuahia myself , same place with T.A orji but I prefer ikpeazu to him because I firmly believe okezie won't disappoint

Murphy Ibiam keep fooling around