New Telegraph

Enugu, Best State For Investment, ROI, Mbahs Tells Investors

Enugu State Governor, Dr Peter Mbah, has assured investors of the state’s conducive environment for business and high returns on investment, saying with the state’s deliberate policies at derisking investment flow and enhancing ease of doing business, Enugu remains the best and most attractive state to invest.

The governor, who disclosed this, weekend, in Enugu during the 60th anniversary of the Enugu Chamber of Commerce, Industry, Mines and Agriculture (ECCIMA), said his administration was poised to continue to forge workable and progressive partners with the association made up of captains of industry, manufacturers, business moguls and investors.

While congratulating ECCIMA for driving the state’s economic expansion, Mbah attributed the successes recorded in its 60 years of existence to the good foundation laid by its founding fathers, adding that his administration recognised the positive impacts of the investors on the economy.

He said, “I would like to acknowledge all businesses, captains of industry, and investors represented here today. We recognize your active participation in fostering the growth of businesses within the State. Permit me to state that you are integral to the building of our state’s economy”.

Governor Mbah, who was represented by the Secretary to the State Government (SSG), Professor Chidiebere Onyia, said the State Government is focused on investment, expanding the state’s economic base and creating the right environment for more investors to come in.

“Our vision is to grow Enugu’s economy from a GDP of N4.4bn to N30bn within 4-8 years and to reduce the poverty headcount to zero. These form the policy thrust of our government and underpin our policy development. ECCIMA is pivotal to the achievement of this goal by contributing to economic and business activities while also providing employment to many.

“Our administration is actively engaging with investors and development partners to drive investment within the State. Just a few weeks into our administration, we held an investment roundtable and a few days ago, an investors network was held here in Enugu. While we trudge on with these initiatives, we are well aware of the importance of driving domestic investment and local business growth.

“As a result, we have focused on a robust strategy to improve key drivers of growth for our domestic businesses. This covers improvement of infrastructure and enabling the business environment,” he added.

Governor Mbah said they were very focused on the partnership they had seen in ECCIMA. He added that the state government was focused on creating an enabling environment for businesses, through infrastructural development, public-private partnership and harmonization of taxes, for businesses to thrive in the state, using an e-governance model to block leakages.

“In addressing issues of multiple taxation, the State revenue administration system is evolving to streamline processes. A revenue harmonization committee has been established to review and harmonize tax collections. The outcome of this exercise would be sector-based, harmonized demand notices, and published fee schedules. Additionally, collections have been digitized to minimize the occurrence of multiple charges and loss of revenue,” he further disclosed.

He said power supply has been a major concern to Enugu State and that the state was the first state in the country to enact an electricity law, maintaining that Enugu State Electricity Regulatory Commission would take full control of power regulation in the state to enhance its target generation of 700 megawatts for industrial uses.

He said the state government had taken steps to create a friendly environment to attract investors to the state including the daily provision of 120 million litres of water, adding that it’s stepping up efforts to make the state one of the top 3 states in Nigeria on ease of doing business.

The governor also enjoined ECCIMA to assist the state government in growing the state’s economy, saying, “If we plan to run a business and grow our economy, it is impossible without the business community. We don’t know everything. We are willing to work with people who had gone that part”.

In his address, the President of ECCIMA, Jasper Nduagwuike said ECCIMA was founded by Dr. Nlogha Okeke of blessed memory with successors sustaining the dreams of the founding fathers. “The Chamber movement is not profit-making, but is powered by the selfless commitment of people who want to partner with the government to ensure the ease of doing business so that appropriate economic benefits can accrue to the people and Government of the day”, he said.

Nduagwuike, who was represented by Nnanyelugo Onyemelukwe, commended the Enugu State government for its support of ECCIMA, assuring continuous partnership with the state government

Earlier, the Chairman of the occasion, Ide J.C. Udeagbala, who was represented by the President of South East Chamber of Commerce, Industry, Mines and Agriculture (SECCIMA), Humphrey Ngonadi, felicitated ECCIMA for its laudable contributions to the growth of the country, even as he commended Enugu State government for its support to ECCIMA..

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