FG, Abia Sign Deal For N500bn Enyimba Economic City
The federal government and Abia State, on Friday, penned the N500 billion Enyimba Economic City project at Aba, Abia State, where the federal government has taken 20 per cent equity of N100 billion. The project is a private sector driven.
Regarded as project capable of sparking industrial revolution in Nigeria, the Enyimba Economic City is a 9, 803 hectares of new economic city, spanning three local government areas of Ukwa East, Ukwa West and Ugwunagbo.
It is located at the centre of the five South-east and four South-south states and is to be designed to drive massive economic expansion of the region and by extension Nigeria.
The Enyimba City Economic Zone Limited signed on behalf of the Abia State Government while Nigeria Special Economic Zone Company signed on behalf the federal government at a colourful signing ceremony that took place at the Presidential Villa, Abuja.
President Muhammadu Buhari who witnessed the signing, commended the Governor of Abia State, Okezie Ikpeazu for initiating the project and thanked the host communities for their commitment to the project, saying that everyone should be more confident of the success of the project since the Minister of Industry, Trade and Investments, Okechukwu Enelamah, under whose portfolio it falls, hails from Abia State.
The President assured the people of Abia State and other Nigerians of the federal government’s support and cooperation towards similar project anywhere in the country
President Buhari specifically commended Ikpeazu, and some private sector investors who initiated and midwifed the Enyimba City Economic Zone project.
He said such initiatives were exactly what his administration was desperately looking for to create employment for the populace and boost the national economy as at full capacity, it was expected to create 625,000 direct jobs.