Udechukwu: Modernisation of Anambra State economic hubs underway

Anambra State, Nigeria, is undergoing a significant transformation in its economic landscape as the government focuses on modernizing major economic hubs in the region. Christian Udechukwu, the Commissioner for Industry in Anambra State, revealed in an interview with CNBC Africa that Governor Chukwuma Charles Saludo is leading the charge to restructure and re-engineer the state's economy. The state is strategically targeting key economic centers such as Oka, the capital city, and Onitsha, known as one of the largest markets in West Africa, for major regeneration and modernization efforts. In addition to revitalizing existing hubs, the state is embarking on the development of new cities like Onitsha 2.0 and Oka 2.0, which will feature industrial clusters and upscale amenities. These initiatives aim to create a conducive business environment that attracts investments and fosters economic growth. One of the flagship projects in Anambra State is the Anambra mixed-use industrial city, spread across 4,141 hectares of land. This industrial city is meticulously planned to accommodate various sectors including pharmaceuticals, automotive, agri-processing, finance, and high-tech manufacturing. The presence of renowned companies like Arise Holdings and partnerships with financial institutions like the African Development Bank and Afrixin Bank are driving the development of this industrial city. The collaboration with these entities signifies the state's commitment to leveraging external expertise and resources to propel economic development. Furthermore, Anambra State is keen on enhancing its infrastructure to support business activities and attract investments. The government has invested significantly in road networks, with over 500 kilometers of new stone-based asphalt roads constructed in the last two and a half years. The focus on infrastructure development extends to education and healthcare, with initiatives to provide free education up to secondary school and improve healthcare facilities across the state. By prioritizing these fundamental aspects, Anambra aims to bolster the overall business environment and ensure sustainability in economic growth. In the energy sector, Anambra State is making strides towards reliable power supply by diversifying its sources of energy. The state is capitalizing on its abundant gas reserves to explore solar, hydropower, and gas power options for electricity generation. By aligning with the National Power Bill 2023 and establishing a Power Regulatory Commission, Anambra is setting the stage for a robust and competitive power market. This initiative is expected to attract both domestic and foreign investors interested in contributing to the state's energy infrastructure. Christian Udechukwu highlighted the importance of collaboration between the public and private sectors in driving Anambra State's economic agenda. By engaging with both domestic and international stakeholders, the state aims to maximize the opportunities presented by its modernization projects and infrastructure developments. With a clear focus on creating a conducive business ecosystem, Anambra State is poised to emerge as a hub for investment and economic prosperity in Nigeria.