• Tuesday, February 27, 2024
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Mbah urges investors to seize opportunities in Enugu

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Peter Mbah, governor of Enugu State, has urged Indonesian businesses and investors to take advantage of the numerous investment opportunities, improved business environment, and ample returns on investment in Enugu State.

Speaking at the 2023 Nigerian-Indonesian Investment and Trade Forum in Jakarta, Mbah commended the growth of trade volume between Nigeria and Indonesia to $4.7 billion, according to a statement.

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He, however, said that both countries could actually do much more, especially considering the abundant opportunities offered by Enugu State.

“In the area of agriculture, Enugu is blessed with 10 percent arable, fertile land with a high factor of productivity and good access to both surface and underground water that makes all year-round agriculture possible,” Mbah said.

He said that the state is climatically disposed to the production of key products like cassava, oil palm, cashew, and spices of various types. He further said the investment opportunities in the state span from agriculture, mineral resources, logistics, aviation, tourism, real estate, mineral resources, and ICT, among others.

“These areas offer not only the opportunity for primary agricultural production but also the opportunity to invest in industrial facilities to add value to these produce for local consumption and export,” he said.

“The state is also blessed with significant deposits of minerals. In the area of petroleum, Enugu State has proven deposits of oil but more importantly, has extensive deposits of natural gas,” he said.

He added that other minerals within the state include coal, gold, kaolin, gypsum, clay, and limestone, among others. This makes Enugu ideal not only for mining but also for the siting of key industries.

Mbah assured that Enugu was open for business, he said his administration’s target is to grow Enugu State’s economy from the present $4.4 billion to a new level of $30 billion was anchored on extensive private sector investment and utilisation of strong local and international partnerships.

“It is in view of this, that we are here today reaching out to the government and business community in Indonesia to let you know in the clearest way possible that Enugu is open for business,” he said.

Usra Harahap, the Ambassador of Indonesia to Nigeria reiterated the readiness of the government and business community of Indonesia to strengthen investment and trade ties with Nigeria at both federal and subnational levels for mutual benefits.

“In 2022, the trade volume between Indonesia and Nigeria reached $4.7 billion, with the majority of Indonesia’s imports in oil and gas. However, there are untapped potentials for trade and investment in other sectors, which are massive and open for future development,” he said.

Read also: UK, Enugu State to partner on trade, investment, others

Usman Ogah, Nigeria’s Ambassador to Indonesia said the Investment and Trade Forum was yielding the required results.

“At this time last year, we were saying our $2.6 billion trade volume would go to $4 billion. Today, we are talking about $4.7 billion in less than one year and the chamber has said they are targeting $6 billion from now till December end. The balance of trade is in the favor of Nigeria,” Oga said.

The organisers led by Ishmael Balogun, the president of the Nigerian-Indonesian Chamber of Commerce and Industries, and Hendro Manurund, the director of Indonesia Trade Promotion Centre, Lagos, resolved to deepen trade and investment relations between both nations.