• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Business News

Enyimba Economic City: A tale of N500 billion and 625,000 jobs

CSL Stockbrokers by CSL Stockbrokers
November 25, 2019
in Business News, Market Views, Op-Eds, Politics, Research Analysis
Enyimba Economic City: A tale of N500 billion and 625,000 jobs
Share on FacebookShare on TwitterShare on Linkedin

Earlier in the month, Governor of Abia State, Dr Okezie Ikpeazu took a major step towards actualising the vision of the Enyimba Economic City (EEC). At the second edition of the AfDB led Africa Investment Forum (AIF), the governor secured US$430 million funding for the economic city. This came a month after the team that pitched the Enyimba Economic City at the Charter Cities Institute defeated projects from Russia and Australia to claim the US$25,000 funding as well as partnership with the institute.

The EEC is Dr Ikpeazu’s vision to actualise and aid the already present innovative, manufacturing and entrepreneurial culture of the citizens of Abia state and the South East as a whole. The city of Aba (the location of the EEC) located in Abia state popularly dubbed the “China of Africa” is a city known for its craftmanship in iron and leather works. However, the city has not enjoyed any form of coordinated support to assist entrepreneurs and SMEs within the city groom their businesses. The dearth of infrastructure such as good roads, water resources, power and environmental cleanliness facilities have limited the growth of the commercial hub.

Governor Ikpeazu last year announced plans to build the EEC which would connect all the 5 South-Eastern states as well as the 4 South-South states bordering the city and operate as a Free Trade Zone. The 9,803-hectare EEC is located strategically near existing seaports in Onne and PortHarcourt while having good proximity to the proposed Akwa Ibom Deep Sea Port. Furthermore, it is located along key rail lines of PortHarcourt and Maiduguri giving it a major connection to Northern states.

RelatedStories

Africa needs $402.2 billion annually by 2030 for structural transformation – AfDB President 

Africa Investment Forum 2024 secured $7.6 billion in investment interest for Nigeria, says AfDB president 

January 12, 2025
Valentine's day business ideas

Businesses that will profit from today’s Valentine’s Day celebrations

February 14, 2023

Enyimba Economic City: A tale of N500 billion and 625,000 jobs

The economic city would be built with its independent inland port as well as airport while it would be constructed as a business hub, work, live, learn and play city. In addition, the city is expected to have independent 24/7 power supply from power substations to be constructed in the city. Abia state is in partnership with Ruyi Group (the largest textile manufacturer in China) as well as Geometric Power Company on the construction of the power plants for the city.

The Federal Government is also weighing in on the project with its own equity contribution. The US$430 million funding secured by the governor at the AIF would be used to onboard the first phase of the project. The project is expected to create over 625,000 jobs over the next 10 years while gulping over N500 billion (US$1.4 billion) upon completion.

[READC MORE: Nigeria’s GDP picks up to 2.28% y/y in Q3-19]

We consider this project a landmark one for the state and Nigeria as a whole as it would provide a major boost to the development of manufacturing and industrialisation in Nigeria. While the project is privately led and appears adequately thought out, we are concerned about it going the way of similar projects in the past that have since gone under the radar.

The biggest example would be the TINAPA business and leisure resort which was conceived under a Public-Private Partnership agreement floated by the Cross River government and opened in 2007 but has since been abandoned mainly due to unfavourable government policies, high operating costs and disagreements between the operators and regulators. One would, however, hope that the Abia state government would have lots of lessons to learn from the failure of TINAPA. Nevertheless, the Enyimba Economic City may just be another major breakthrough for industrial development in Nigeria.

Watch the video below.

________________________________________________________________________

CSL STOCKBROKERS LIMITED CSL Stockbrokers,

Member of the Nigerian Stock Exchange,

First City Plaza, 44 Marina,

PO Box 9117,

Lagos State,

NIGERIA.


Follow us for Breaking News and Market Intelligence.
Tags: Africa Investment ForumDr Okezie IkpeazuEnyimba Economic CityOn the Money
CSL Stockbrokers

CSL Stockbrokers

Related Posts

Africa needs $402.2 billion annually by 2030 for structural transformation – AfDB President 
Economy

Africa Investment Forum 2024 secured $7.6 billion in investment interest for Nigeria, says AfDB president 

January 12, 2025
Valentine's day business ideas
Financial Literacy

Businesses that will profit from today’s Valentine’s Day celebrations

February 14, 2023
How to grow your customer base, keep your business in demand (Part 1) 
Financial Literacy

How to grow your customer base, keep your business in demand (Part 1) 

October 10, 2022
From reading to vending: The story of Chike Nwafor who makes a decent living from peddling books 
Business

From reading to vending: The story of Chike Nwafor who makes a decent living from peddling books 

October 2, 2022
Interim Government: What’s the fuss about?
Business

Twitter ban lift: Experts point to Nigerian government as the biggest loser

January 16, 2022
Afreximbank sets up a $500 million fund to support Africa’s creative industries
Business

Afreximbank sets up a $500 million fund to support Africa’s creative industries

February 25, 2021
Next Post
Olumide Adeosun, Forte Oil Plc, Forte Oil CEO, Olumide Adeosun

Forte Oil to change its name to Ardova Plc 

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank
Zenth Bank








DUNS

Recent News

  • Customs intercepts N3.6 billion worth of donkey skin meant for illegal export in Owerri 
  • DMO allots N100 billion in June bond auction amid strong investor demand 
  • Lagos launches digital house numbering to tackle tax evasion, others 

Follow us on social media:

Recent News

Customs intercepts N3.6 billion worth of donkey skin meant for illegal export in Owerri 

Customs intercepts N3.6 billion worth of donkey skin meant for illegal export in Owerri 

June 24, 2025
FGN Bonds, bond, DMO set to auction N150 billion in FGN Bonds to investors , FGN Bond for February 2020 oversubscribed by investors, DMO suspends April 2020 FGN savings bond offer

DMO allots N100 billion in June bond auction amid strong investor demand 

June 24, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics