John Doe
Tue, Aug 29, 2023 7:10 AM

Enugu State Governor to Unveil ₦1.6 Trillion Pipeline of Projects at Investment and Economic Growth Stakeholder Roundtable

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Enugu State Governor to Unveil ₦1.6 Trillion Pipeline of Projects at Investment and Economic Growth Stakeholder Roundtable
Governor Peter Mbah of Enugu State is set to unveil a ₦1.6 trillion ($2.1 billion) pipeline of 30 projects at the first Enugu State Investment and Economic Growth Stakeholder Roundtable. The event aims to mobilize private capital for large-scale infrastructure projects, propel economic growth, and boost investor confidence in the state. Attendees from various institutions including financial bodies and development banks are expected to participate.

Enugu State is taking a significant step towards its economic transformation as Governor Peter Mbah prepares to announce a groundbreaking ₦1.6 trillion pipeline of 30 projects at the inaugural Enugu State Investment and Economic Growth Stakeholder Roundtable.

The roundtable, which will be held in Enugu, aims to bring together local and international investors from diverse industries. The projects included in the pipeline span several sectors, including transportation, healthcare infrastructure, energy, power, and agro-allied industrialization.

Governor Mbah's administration is committed to accelerating Enugu State's economic growth from its current $4.4 billion to an impressive $30 billion. To achieve this vision, the implementation of an Integrated Sector-Based Productivity Growth Strategy is underway. This strategy will facilitate the growth of sectors with substantial potential by reducing unnecessary regulations, fostering innovation, and stimulating growth.

The event is set to draw high-level executives from prestigious institutions such as the World Bank Group, the African Development Bank Group, the International Finance Corporation, and the African Export-Import Bank. In addition, esteemed representatives from the Nigerian Sovereign Wealth Fund, commercial banks, corporate pension funds, private equity funds, infrastructure funds, and other domestic financial institutions will attend.

During the Roundtable, participants will engage in discussions covering a range of topics. They will address obstacles hindering investment and economic growth in Enugu State, explore methods to enhance investor confidence, and identify opportunities for project preparation and co-investments. This collaborative effort aims to chart a course for effectively mobilizing private capital for large-scale infrastructure projects.

The Enugu State Investment and Economic Growth Stakeholder Roundtable is a critical precursor to the launch of the maiden multi-stakeholder and fully transactional Diaspora and Investment Forum. This forum is anticipated to take place in the second quarter of 2024.

Enugu State is poised to create a business-friendly environment that encourages public-private partnerships (PPPs) and investments. By developing a robust legal, institutional, and policy framework, the state aims to attract private sector involvement and secure the necessary financing for critical infrastructure. Through the release of an Investment Plan for the Integrated Sector-Based Productivity Growth Agenda, Enugu State plans to incentivize private sector investors and stakeholders to participate in essential infrastructure investment projects.

The announcement of the ₦1.6 trillion pipeline of projects serves as a catalyst for Enugu State's accelerated economic growth. It paves the way for long-term partnerships and cooperation, unlocking the state's potential while positioning it as an attractive investment destination.

This groundbreaking event signifies Enugu State's commitment to fostering economic development, embracing innovative strategies, and propelling the state towards a prosperous and vibrant future.

Author: John Doe

Source of content: OOO News 2023-08-29 News

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