Governor Peter Obi of Anambra State has assured the people of the state that he will invest N25 billion of the state’s funds in equities before leaving office in 2014.

Obi gave the assurance on Tuesday while inaugurating the newly-constructed traditional rulers’ council offices in Awka, the News Agency of Nigeria reports.

He said that investing the state’s funds in companies would help to sustain the current healthy financial status of the state.

Obi said his desire to save funds and invest in profitable companies was meant to reposition the state effectively toward meeting its development needs.

He urged the people to unite and shun all acts capable of generating dispute that could return the state to its former and jettisoned pariah status.

“We have to develop the state, but everybody has to make his own sacrifice; we are not lacking money.

“I have mandated all the commissioners to move out and do their jobs extremely well.

“Anambra is now business and does no longer want a government that will be distracted by trouble makers.

“It is a state which we are developing. Before I leave office, my target is to have N25 billion state funds invested in companies,” he said.

The governor said he had already invested N4 billion in Orient Petroleum which would be inaugurated by Jonathan on August 30.

“This is as a result of the prudent pattern of spending money which we adopted over the years,’’ he said.

He added that 60 million dollars of the state fund had been invested in SabMiller Brewery at Onitsha and would be inaugurated by the president.

In a vote of thanks, the Chairman of Anambra Traditional Rulers Council and Obi of Onitsha, Igwe Alfred Achebe, commended the governor for his development strides.

Achebe assured Obi that members of the council would support his candidate for the 2014 governorship election.

The occasion was graced by the state commissioners, women leaders and town union presidents-general, among others.

asha 80: it is good only if the equities do not collapse.

billante:

I don't think equities on breweries or oil will ever collapse! Ask nigeria breweries or chevron!

chino24:


Right on point.

Besides don't bother schooling these detractors and de-railers, they do not deserve it more especially when they know the reality.

deshclones:

Chino...abeg thank ada[b]obi[/b] for me...heard construction has started on my village road...kudos...but the man should in the name of God develop the state capital Awka...that place is a shame to every well traveled anambrarian...he should forgive awka people for dumping him during the last election and develop the capital...properties are not even appreciating...its a shame that plot of land at esther obiako is a mere 2-3m,even udoka estate,the banana island of awka is btwn 8-10m..the only thriving business there is hotel biz,..while the only guys there are civil servants,bankers and lecturers...make ada[b]obi[/b] develop awka nah...

deshclones:

Chino...abeg thank ada[b]obi[/b] for me...heard construction has started on my village road...kudos...but the man should in the name of God develop the state capital Awka...that place is a shame to every well traveled anambrarian...he should forgive awka people for dumping him during the last election and develop the capital...properties are not even appreciating...its a shame that plot of land at esther obiako is a mere 2-3m,even udoka estate,the banana island of awka is btwn 8-10m..the only thriving business there is hotel biz,..while the only guys there are civil servants,bankers and lecturers...make ada[b]obi[/b] develop awka nah...

Keneking: I can only help to grow the Brewery business through in-route market penetration if given the opportunity. The only thing to do is to define the sales territory, engage some van sales reps, open up bids for large scale distributors and sub-distributors and constant marketing of the brands. I am an Anambranian and this is my contribution to the development of the state. With this points, the likes of Nigeria Breweries, Guinness etc would stay away and compete in states like Lagos and PH.

Billyonaire: Just N25b ? How much is Anambra's monthly Allocation from the Feds and How is their monthly IGR ?

manny4life: As for me good move but I have mixed feeling about this, I'm a lil reserved when it comes to govt to private equity investment. Private investment is definitely not what Anambra needs at the "short nor long term", this shouldn't be their vision. This does not create any "directly or indirectly benefit to the people.

Emperoh: Good move but i am not sure these should be the state's main priorities.
These monies could be used to put in place infrastructures that will stimulate the growth of SMEs and other investments.
Moreso, if going by what i read above, that Anambra has up to 60 percent stake in Sabmiller, then we should gear up for another set
of government owner industries that failed. Remember Nkalagu Cement Company? Ikenga Hotels, AVOP etc/

Govt can't manage investment in private equities and not when they are in control.
Max we should invest in any venture is 25 percent.

Billyonaire: Just N25b ? How much is Anambra's monthly Allocation from the Feds and How is their monthly IGR ?

kasiem: is it better to embezzle it?

kasiem: This man is really futuristic

cjfavour: Really? Is he? How much did delta spent to build their airport?Is it up to N17B? Why dnt he spend a fraction of this amount to build even a local airport dt will be yielding money for d state? Do u know why i voted for him in his first tenure?bcs he promised us an airport.Where is it today?Mirage!!! Now he's talking about equity dt have high risk.Is there no other project he can build than buying equities and shares? What type of futuristic plan does he have dt he cant see dt anambra with d biggest market in west africa needs an airport,seaport and when d feds finish d seaport dt to start a shiping line is far better than buying shares dt if care is nt taking will loose its value? Go to onitsha,is there any govt presence there? Do u know how much awada generates for d state bt there is no tarred road there? What of Nnewi?Let me nt talk of awka. Bros PO is myopic and a miser.Why didnt he build d super market he built at abuja here in anambra? Well,he have a strong propaganda machine which he uses to brain wash ur likes. Have he employed a single graduate since he became d gov of anambra? Ponder and reply.If u insult me,i'll ignore u and ur likes.

cjfavour: Really? Is he? How much did delta spent to build their airport?Is it up to N17B? Why dnt he spend a fraction of this amount to build even a local airport dt will be yielding money for d state? Do u know why i voted for him in his first tenure?bcs he promised us an airport.Where is it today?Mirage!!! Now he's talking about equity dt have high risk.Is there no other project he can build than buying equities and shares? What type of futuristic plan does he have dt he cant see dt anambra with d biggest market in west africa needs an airport,seaport and when d feds finish d seaport dt to start a shiping line is far better than buying shares dt if care is nt taking will loose its value? Go to onitsha,is there any govt presence there? Do u know how much awada generates for d state bt there is no tarred road there? What of Nnewi?Let me nt talk of awka. Bros PO is myopic and a miser.Why didnt he build d super market he built at abuja here in anambra? Well,he have a strong propaganda machine which he uses to brain wash ur likes. Have he employed a single graduate since he became d gov of anambra? Ponder and reply.If u insult me,i'll ignore u and ur likes.

splendidb20:
i strongly agree with you....on th part of airport, anambra state will never build an airport. not when most anambrarians are into transport business. it's like barnning motorcycle in the state.
what pains me most is the nonchallant attitude f the governor concerning the state university. students paying N130000, for what? SMH

asha 80: depends on who becomes the next governor and his plans for the state.the next governor is very much likely to have more money to spend on infrastructure and the likes than the present governor ever had throughout his tenure which in turn benefit the citizens.you live in a clime where goverments plan for the future so you should know better.

manny4life:


Have money to spend on infrastructures? From where? I know better that govt don't invest in long term investments of private firms. If Anambra's equity CANNOT be fully liquidated in a year, then ... you know the answer.