The Central Bank of Nigeria (CBN) has rated the economy of Anambra as among the strongest in the country.

The Branch Manager of the bank in Awka, Mr Okoro Azubuike, announced the rating in Awka on Thursday when he received the Minister of Information, Mr Labaran Maku, who was on good governance tour of the state.


Azubuike said the deposit mobilisation on the state was third in the country behind Lagos and Kano, while it ranked fourth in terms of the presence of commercial and micro-finance banks.


He said the commercial cities of Onitsha and Nnewi were large and had made the state the commercial base of the South-east region.


In his remarks, Governor Peter Obi said the bank was crucial to the commercial activities of the state, adding that the government had resolved to fast track the construction of its permanent.

PROUD-IGBO:
If this is the case, why hasn't the state gov't in 7 years deemed it fit to give Onitsha and Nnewi a befitting look to make them (the geese that lay the golden egg) able to retain and attract more investors?

asha 80: the truth is that the blue collar states seem to have higher level of money exchanging hands.these states are lagos,ogun,kano,borno,anambra and abia.rivers state is the exception here.l

kettykin:

Anambra case is exceptional because the Deposit Mobilization is matched by the number of Bank Branches

Anambra has the 4th Largest number of commercial banks and Micro Finance banks the order is as follows Lagos , Abuja , Rivers and Anambra
in Deposit Mobilization Anambra is number 3 After Lagos and Kano

I don't have the details to know how much Kano is bigger than Anambra but some few key points i have noted are the following
Lagos is the most Populous state in Nigeria followed by Kano state .
Lagos gets the highest Federal Allocation while Kano gets the Second highest Federal Allocation in Nigeria apart from the 4 big Oil producing states of Niger Delta (Akwa Ibom,Rivers,Bayelsa,Delta)
Both Lagos and Kano has the highest number of Federal projects because of the high number of House of Rep members in the states and the syndrome of Constituency Projects.
Kano has the highest number of Local Government in Nigeria while Both Cities are the 2 oldest commercial Cities with the Oldest International Airports in the Country.

For Anambra to have made it to number 3 means Anambra has beaten states like Ogun despite it proximity to Lagos and producing Ex 2 Ex head of states (OBJ,Shonekan) 1 who looted Billions of Dollars of the Nations's wealth and has one of the largest farms in Africa which has also produced Enterprenuers like Abiola who at one time was Nigeria's Richest Man and Mike Adenuga whom was touted at a time as Africa's second Richest man some folks believe he is richer than Dangoted.
It has also Beaten Oyo state/Ibadan which some folks mouthed Recently as one of the Cities to watch out for and which some Phantom reports have its GDP as the 3rd Highest in the Country and one of the Largest and most populous Nigerian Cities.

pazienza: @Ketty, nice analysis bro.

Nightshift: The wealthiest states should have good infrastructures, functional administrative institutions, the lowest unemployment rates and a robust manufacturing sector . Its citizens should also have access to affordable health insurance , plus a sustainable social welfare for the weak and elderly . All the states in Nigeria lacks all of the above, and in my opinion cannot be classified as 'wealthy', unless we continue to live in denial . The states we have aren't even able to provide water to its citizens . I mean basic water.... And basic security ?

liberty300: Anambra state is financially strong if you ask me...the state should move on to the beautification of the environment

liberty300: Anambra state is financially strong if you ask me...the state should move on to the beautification of the environment

Afam4eva: I see no reason why Anambra should not be no 2 after Lagos. I think a lot of concerted efforts need to be put in place to even make Anambra compete with Lagos. The amount of money in Anambra is unimaginable. But the reason why some people look down on Anambra is because the infrastructure there is not as daring as those in other commercial cities. Anambra is the future.

kettykin:



I would suggest Anambrarians start with infrastructures like Rail Link to Ibaka Sea Port, Utilisation of the Sea Port in Onitsha, an International Airport or High Speed Rail Link to Enugu international Airport.

Anambrarians need to start looking at making Onitsha a smart City that will be on a 24 hour Operation that will start from the City centre and gradually spread to other parts of the City.
Some Roads will have to be 10 lane roads that can accommodate expansions like the Trunk roads in Onitsha and Nnewi.

Also a massive investment in International Trade ,Onitsha main market should actually make way for an international grade Shopping malls like is obtainable in Dubai that will run 24 hours , Nnewi should be upgraded into an Auto Manufacturing and Auto parts manufacturing center with a large Foundry , steel Furnace and forges to compliment .
With 2 Key industries the Auto Industry and the international Trade ,Anambra should be able to break any barrier

Nightshift: The wealthiest states should have good infrastructures, functional administrative institutions, the lowest unemployment rates and a robust manufacturing sector . Its citizens should also have access to affordable health insurance , plus a sustainable social welfare for the weak and elderly . All the states in Nigeria lacks all of the above, and in my opinion cannot be classified as 'wealthy', unless we continue to live in denial . The states we have aren't even able to provide water to its citizens . I mean basic water.... And basic security ?

Sealeddeal: This is a confirmation that the government led by Gov Peter Obi has done well in those areas that was necessary to bring anambra to its present rating.

Eko Ile: Another low self esteem thread. Self insecurity is a disease.

chino24:


You must not comment because you do not have a point. When it does not favor your lame state then no state is developed nor wealthy. This is the same reason we say that Anambra is a monolithic state in the SE. There are only few states in Nigeria that can match Anambra, these are Lagos, Rivers and Kano. Anambra match on very soon we will be planning on acquiring incapacitated states around. Lol

Nightshift: I have seen and lived in a wealthy state in a federation. In view of this fact , i refuse to accept your idea of a wealthy state . We must look at the big picture and stop ridiculing ourselves .

liberty300: Anambra state is financially strong if you ask me...the state should move on to the beautification of the environment

manny4life:


First off, let's test your basic economics here - what do you define as "wealth"?

Answer that question, and then we can move onto further explanation.

Btw, what you're speaking of is in terms of "development", you can experience growth (which leads to wealth), but you need development to sustain it. So for you to ignorantly state that because Anambra is lacking some infrastructures is plainly silly. Though infrastructures are important, it will not prevent those who want to break through, if Innoson could do it (car plant) with enormous amount of power required, anyone can do it. Anambra doesn't have any high debt profile, in fact, it was amongst the states without any debt YET, it was making do with its budget.

Nigeria as case example is growing economically, our SWF is growing, our reserves has increased by almost double digits (%), there are indicators that's showing the Nigeria is on the path of economic boom, but our development isn't that robust yet. At least with GEJ, power is improving, rail is improving, transportation is getting back on track. Communication is established and in the process of going higher, our banking/credit facilities are doing ok, agricultural schemes are in the direction. All these will support further growth.

What I'm saying in my rambling is that growth and development are two different things but need each other. Growth technically is directly proportional to wealth, but you need development to sustain it.

Nightshift: Does saying that my state is wealthy but not developed make sense to you? Why do some people accept half truth in Nigeria ?

manny4life:

I asked you to define what "wealthy" states mean?

Nightshift: I have seen and lived in a wealthy state in a federation. In view of this fact , i refuse to accept your idea of a wealthy state . We must look at the big picture and stop ridiculing ourselves .

good infrastructures, functional administrative institutions, the lowest unemployment rates and a robust manufacturing sector