The Anambra State Government has attracted over $500 million in investment funding and partnerships during its second investment summit held on November 14, 2024.
The announcement was made by Mark Okoye, Managing Director of the Anambra State Investment Promotion and Protection Agency (ANSIPPA), highlighting this as a significant milestone in the state’s economic transformation agenda.
Themed “Changing Gears: Accelerating Anambra’s Economic Transformation,” the summit convened industry leaders, financial institutions, development partners, and government officials to showcase Anambra as a viable destination for investments.
Discussions centered on leveraging the state’s potential to drive growth across critical sectors such as healthcare, natural gas infrastructure, tourism, and urban development.
According to Okoye, healthcare investments include plans for a specialized cancer treatment facility, while the tourism sector will see the revitalization of the Agulu Lake Hotel and other hospitality facilities.
Anambra’s natural gas reserves, estimated at 30 trillion cubic feet or 15% of Nigeria’s total, will play a pivotal role in developing backbone pipelines for efficient gas distribution. Key projects also involve managing the Awka International Convention Centre and statewide infrastructure development to support economic activities.
Building on past achievements, Okoye noted that Anambra had previously secured $250 million in funding from Afreximbank in 2023. This capital has been allocated to strategic projects like the Anambra Mixed-Use Industrial City (AMIC) and the Anambra Intra-City Rail Project.
These initiatives are aimed at fostering industrialization, enabling export-driven production, and improving urban mobility. The master plan for AMIC has been completed, with groundbreaking expected soon.
Partnerships with global entities like the United Nations Development Programme (UNDP) are fostering innovation through initiatives such as a maker’s space for entrepreneurship and technology development.
Collaborations with companies like Genesis Energy and VFD Energy are advancing the establishment of Independent Power Plants, while the African Development Bank supports infrastructure projects, including roads and agro-processing zones.
To address energy challenges, a ₦200 billion infrastructure fund has been initiated to develop pipelines and ensure reliable electricity for industrial zones, markets, and residential areas.
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