Nigeria’s Vice President Yemi Osinbajo in one of his recent visits to Abia State commissioned the Abia Investment House, a one-top shop that will guarantee the ease of doing business in the state.
The one-stop shop was designed to host the Inland Revenue Service (IRS) and its partners to create a friendly environment for investors and other patrons, who would come into the state to do business.
Abia is currently ranked 34 out of 36 in the ease of doing business in Nigeria, but it is the wish of the State Government to consistently work until it ranks among the top 10 in the country.
It is heartwarming that efforts of the Government to improve ease of doing business in the state, including revenue harmonisation have started yielding fruit, and these results are coming in less than two years of the life of the present administration in the state.
Foreign investors, especially firms from the United States of America (USA), have shown great interest in investing in Abia.
For instance, Comfort Stephens Global Investments, a big conglomerate, intends to establish shoes and garment manufacturing lines in Aba, the state’s commercial hub.
To create market for products that would roll out from the proposed Aba factory, the company intends to create an online platform like Alibaba.
Also recently, BRJ and Associates of the United States of America agreed terms with Eastgate Terminal Limited, concessionaire to the Aba Inland Container Depot (ICD) to develop a dry port.
The memorandum of understanding (MoU) was signed in Aba, the state’s commercial hub.
Consequently, BRJ, a construction and project management firm, based in Pasadena, California, United States of America, is to construct the dry port and manage it on behalf of Eastgate Terminal Limited.
When fully operational, the port is expected to boost business transaction in the South-East and decongest Onne and Port Harcourt ports.
The proposed project, which is a 50,000 TEU (container) port facility, will serve Aba, Onitsha, Enugu, Ebonyi, Imo, Delta and Benue States. The port would receive containerised cargo by rail or road from Port Harcourt.
Eastgate chief operating officer announced its partnership with BRJ, during inspection of the project site by stakeholders.
Bill Nkemdirim, chief executive officer, Eastgate Terminal Limited, while presenting the BRJ team to the State project Implementation Committee and the host community, at the project site at Avor Ntigha, in Isiala Ngwa North Local Government Area of Abia State, explained that BRJ, would construct and manage the facility for Eastgate.
Nkemdirim in company of Ify OKolue, coordinator, South-East zone of the Nigerian Shippers Council (NSC), observed that the Aba dry port is important to Abia State and the entire South-East region, because of its prospects.
“I am glad and proud that I am here with our partners from Overseas. We have had to work through so many obstacles, trying to ensure that we get the right partners as well and people that are not only going to be committed, but who will be here to build and live in our midst.
“BRJ is here to build and operate the port and so what they have come to do today is to have a feel of the soil they will be working on for the next couple of years. So, what I have come do is to show them the area for them to appreciate it, “he said.
The Micro, Small and Medium Enterprises (MSME) play a vital role in the economic development of a State and Country.
This sector also acts as the breeding ground of entrepreneurship and innovation. These enterprises, through their effective, flexible, innovative and efficient entrepreneurial spirit, play a key role in the economic development of the country.
Moreover, it significantly contributes to the generation of employment and accounts for a major share of industrial growth and export.
MSME sector has been recognized globally, as an engine of economic growth and plays an important role in promoting equitable regional development.
Aba, is regarded as the MSME capital of Nigeria and the entire West African sub region. The city has the largest concentration of micro, small and medium enterprises (MSMEs) in Nigeria and a bulk of this number are engaged in leather works, steel fabrication and garment making, which could be attributed to the popularity of the city.
It is estimated that Aba hosts 110,000 shoemakers and 50,000 garment makers, who are directly engaged in the production of shoes, belts, bags and clothing.
Abia State has comparative advantage in the production of finished leather and garment goods, as the artisans can produce these goods better and at lower cost than anyone else.
To boost the output of these artisans, the State Government is currently developing an industrial city at Umukalika, in Obingwa Local Government Area of the State to provide a more conducive environment for the practitioners.
The project, which will be completed in 18 months, would host about 30,000 artisans.
According to Austin Morah, an executive officer of one of the contractors handling the project, observed that the facility, would boost industrial activities in the State.
The Umukalika industrial site, spanning about 35 acres, was earmarked for the project, but left undeveloped, by previous administrations in the State.
However, the present administration has set machinery in motion to realize the project and thereby boost industrial development of the state, South-East and South-South regions of Nigeria.
Governor Okezie Ikpeazu, in a recent media parley held at the Government Lodge, Aba, observed that a well-developed MSME sector has capacity to employ people and take the youths out of the streets.
In the words of Governor Ikpeazu, “Our story as a people is one of entrepreneurship, resourcefulness and diligence. This is our pride. We have astounded the world with our homegrown technical skills, especially during a period of pervasive adversity, and followed it up with our trade and commercial prowess elevating one of our cities, Aba, into a prominent commercial hub within the West African region.
“This historic renown is to become our future narrative”.
Join BusinessDay whatsapp Channel, to stay up to date
Open In Whatsapp
