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Afreximbank commits $150m to Enyimba Economic City project

The Abia State government has stated that AfreximBank is committing a total investment of $150 million in the proposed Enyimba Economic City (EEC) project.

The federal government has handed the management of its 20 percent equity holding in the project to the Sovereign Wealth Fund, Governor Okezie Ikpeazu of Abia State also disclosed.

Enyimba Economic City is 9.464 hectares, a Special Economic Zone that is planned to connect the nine states in the South-East and South-South of Nigeria, with a captive population of about 60 million, into a global business hub.

Ikpeazu, while playing host to a delegation of leaders of Ukwa West Local Government Area (LGA), on a visit at the Governor’s Lodge Aba, recently, said that the EEC project remains the most audacious economic development project in the entire South East of Nigeria.

The governor disclosed that another crucial meeting on the project will be held in Barbados shortly, and that an indigene of Ukwa West will accompany him to the meeting.

He assured the people of Ukwa West LGA that the government will soon announce the appointment of an Ukwa West indigene as the substantive chairman of the Abia State Oil Producing Areas Development Commission (ASOPADEC).

Ikpeazu told the delegation that the delay in making the appointment was due to the need to ensure that all issues around the matter were properly addressed before the announcement.

He stated that Asa sons and daughters must understand that only one of them could be appointed chairman of ASOPADEC at the same time and tasked them to rally round whoever is eventually appointed.

Governor Ikpeazu informed them that the N30 million that he promised them for the Asa Electricity Project will be made available to them immediately after the meeting, through bank transfer and challenged them to ensure that the project is delivered before the end of September, ensuring that the people of Ukwa West LGA have their own dedicated source of electricity.

He also announced that funds have been released to the contractor handling the Uratta-Umuozuo-Umuekechi- Obokwe-Ugwati Road.

The governor told them that having completed the first phase of the project, which covered Uratta to Umuekechi, the second phase of the project from Umuekechi to Ugwati will commence from Monday and work won’t stop till its completion.

He tasked the people of the area to own the project and cooperate with the contractor.


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