Adedapo Adesanya
By Adedapo Adesanya
The Abia State Government is in talks with the African Development Bank (AfDB) over creation of its entrepreneurship and agricultural investment hub that will make the state a better player in the country’s economy.
This followed a meeting between the governor of the state, Mr Okezie Ikpeazu and the Bank’s president, Mr Akinwumi Adesina at the Bank’s headquarters in Abidjan, Cote d’Ivoire, where they discussed investments for the South-Eastern state that will see the creation of jobs and improve the standard of living.
With a population of over 2.8 million, Abia State is looking to the Bank to help make Enyimba Economic City (EEC), an ambitious economic hub, a reality.
The Governor said, “Our vision is to leverage the capacity of our people to become the SME capital of Nigeria. Our people are industrious and innovative.
“For instance, our people are known as top players in the leather industry. We have a new shoe factory that is producing over 50, 000 shoes.
“We particularly need the Bank’s help to address the State’s infrastructure deficit,” he said.
The state government’s project which was presented at the Bank’s 2019 Africa Investment Forum was also looking to transform the region into a manufacturing and and industrial hub that will lead to the creation of 700,000 jobs over a period of five years.
In addition, Mr Ikpeazu also requested the Bank’s support for the development of key agricultural value chains, including palm oil, rice, cocoa, cassava, maize and cashew, that would also create jobs for women and youth.
It was also revealed that there were other investments that the Abia State Government was looking to invest in, one of which include a waste-to-energy project. Others include to facilitate the Abia State Integrated Infrastructural Project which is designed to develop massive infrastructure in the state, especially in the commercial city of Aba and the capital of Umuahia.
According to the AfDB President, Mr Adesina, “Abia State has huge potential in agro-processing and human resources.
“The Bank’s role is to support governments like yours to transform their economies and create jobs.”
“Over the years, Aba has evolved as a centre of entrepreneurship and SMEs. The city has the potential to be a competitive industrial hub for Nigeria and for Africa. For this reason, the Bank will continue to support your vision,” Mr Adesina added.
After 48 years of its operations in Nigeria, it was disclosed that $74.5 million had been invested in Abia State with the power and energy sector with a combined 53 percent of the investment. Others include: education (25 percent); health (15 percent); and transportation (7 percent).
The Bank then assured that Abia State will continue to be a key beneficiary of the Bank’s support with the planned Abia State Integrated Infrastructure Development Project and the Enyimba Economic City.
