Enugu Plans Investment Summit To Boost Its State Economy

By Chinedu Ikemba
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Enugu, March 4, 2016 - In a bid to re-engineer the economy of Enugu State towards a better future for its citizens, the Ifeanyi Ugwuanyi-led Government is set to host the maiden Enugu State Investment Summit with the theme “Beyond Oil: Fostering Inclusive Economic Growth and Sustainable Development” from April 12 – 14, 2016 at the Michael Okpara Square, Independence Layout, Enugu.

Christened ‘Oganiru’ meaning ‘progress’, the three-day summit will bring together local and international business leaders and investors, bankers, financiers, the diplomatic community and the academia to explore Enugu’s rich potential – and, indeed, the potential of the entire South-East region - across various sectors including agriculture, solid minerals, trade and tourism. The summit will also showcase how Enugu State intends to partner with the private sector to leverage the state’s competitive advantage for inclusive growth and development.

According to Ike Chioke, Director General of Oganiru, “Now more than ever before, with the decrease in federal allocation to states due to dwindling oil revenue, there is a paramount need for government to look to alternative revenue sources that would ensure sustainable economic growth. Oganiru seeks to highlight Enugu’s prospects as a business destination while exploring the state’s potential in a wide range of industries.”

“Key outcomes of the summit will include opportunities for joint venture or outright acquisition through public-private-partnership, privatization and commercialization of state-owned enterprises including Hotel Presidential, Nike Lake Resort, Ada Rice, Sunrise Flour Mills, and many more. There will also be opportunities to boost trade and commerce in the region through co-investment in a Free Trade Zone,” Chioke disclosed.

The Investment Summit is an initiative of the Enugu State Economic Advisory Committee, which was set up by Governor Ifeanyi Ugwuanyi to advise and guide the state on the best economic policies that would help to engender sustainable economic growth. The Ugwuanyi administration has mandated a 4-point agenda for development of the state including employment generation, social services & good governance, rural development and security & justice.