Industry leaders and potential investors from the Southeast have shown their willingness to support Governor Peter Mbah of Enugu State's aspirations for investment and economic expansion.They emphasized that investments move to places where there are fewer risks and a good return on investment (ROI), expressing satisfaction with the administration's efforts to unite regional domestic business leaders and de-risk the state's economic environment.
The business leaders made the announcement over the weekend in Enugu during the launch of the Enugu Investors Network, a project of the Enugu State Government aimed at encouraging local investment.
Dr. Sam Onyishi, CEO of Peace Group of Companies, was among the many business leaders present at the event, which doubled as the Network's inaugural roundtable. He praised the governor for stepping up security.
He emphasized that the only place where Igbo investment could be assured in the long run was their country, and he implored Ndigbo to consider home.
"What I was thinking is what the government is thinking. This government's first action was to improve the Monday sit-at-home policy. We took 62 days off from work two years ago.
We took 67 days off from work last year. It was going to be worse than that this year.I am delighted with this government, which is why I indicated that the government is thinking what I was thinking.
On November 23, 2013, I told my family that I would not be making any investments worth more than N1 billion outside of the South-East. I have never before received an invitation from anyone in Enugu State to attend and engage in this kind of intimate conversation with the governor while seated. The others were more of a "come, talk, and go home" vibe.
However, this one involves action. "This is what we have and what we are going to do together," declares the governor. It is concise and direct.
"We need to be honest and straightforward with ourselves.
I therefore don't want to discuss what Nigeria is or isn't. From my perspective, I am suited for my origins. Giving starts at home.
In agreement, Sir Cosmas Maduka, Chairman of the Coscharis Group, stated that the Group had since returned home, making significant investments in Anambra State's agriculture among other sectors, and that it would be happy to investigate any of the listed investment prospects in Enugu State.
"I appreciate the governor's similarity of thought. But for a real investor, security comes first, and that is the responsibility of the state. I said that investment capital goes where it is safe for that reason.
But you're headed in the correct direction. We're here because, if the right opportunity arises, I'd be interested, Maduka said.
Meanwhile, Governor Mbah stated that the narratives of insecurity, economic underdevelopment, laxity, and a lack of ambitious development initiatives could be changed because they did not represent the people of the South-East. Governor Mbah recalled how Dr. Michael Okpara turned the Eastern Region economy around by assembling eminent personalities such as constitute the Enugu Investors Network.
"So, the Enugu State administration has articulated a tremendous vision and aspiration for Enugu under our leadership in the next four to eight years. In the next four to eight years, we wanted to increase this economy from $4.4 billion to $30 billion, making it one of the largest in Nigeria in terms of GDP.
"The public sector will not be the source of the growth that we see in Enugu. We anticipate that private sector investments will fuel the increase.
Thus, Mbah said, "My goal in being here today is to solicit your engagement, your questions, and your involvement on how we can grow the economy of Enugu and, by extension, the economy of the South-East."
The Enugu Investors Network was launched, according to Prof. Chidiebere Onyia, Secretary to the Enugu State Government, and Adaora Chukwu, Commissioner for Trade and Investment.
They stated that while it was important to look outward for global partnerships, Enugu's potential and experience irreversible growth and prosperity depended on its local business leaders.
"This administration's economic growth strategy centers on domestic industry, with the goal of expanding the economy from the inside out," Onyia declared.