Governor Willie Obiano’s economic
policies in Anambra State have
continued to attract the investment
community, which recently invested
a whopping $382.3 million (N62
billion) in strategic sectors of the
economy.
Out of this inflow, a total of $220
million agreement was signed at the
weekend when two major investors
opted to explore the potentials of
agricultural and tourism sectors of
the state. The two companies that
signed the agreement to invest in
the state are Joseph Agro Ltd., which
pumped in the sum of $150 million
into the Omor Rice Mill project in
Ayamelum Local Government Area of
the state and Cardinal Developers
Trust Ltd., which is investing the
sum of $70 million in a four-star
hotel project in Onitsha.
Joseph Agro Ltd, a subsidiary of
Bravura, one of Nigeria’s major
energy firms and its technical
partner, REI Agro Commodities, the
world’s leading rice producer, has by
this agreement taken over the Omor
Rice Mill with its 10,000 hectares of
virgin land and the 3,850 hectares of
Lower Anambra Irrigation Project.
Speaking at the MoU signing
ceremony in Awka at the weekend,
Governor Obiano explained that
Joseph Agro Ltd would produce
120,000 metric tonnes of paddy rice
per year in its first phase, pointing
out that in addition to the output of
Coched Farms, the project would
completely eliminate the state’s rice
supply deficit by 99 per cent. Said
he: “Joseph Agro Ltd will help
expand our scope in the agricultural
sector. When fully operational, it will
put 10,000 people in direct
employment and about 25,000 in
indirect employment. At the same
time, it will lead to the development
of human and technical capacity to
enhance local rice production as well
as boost the growth in our internally
generated revenue,”
Meanwhile, Cardinal Developers &
Trust Ltd is also taking over the
completion of Anambra’s four-star
luxury hotel in Onitsha, which will
be managed by Radisson Blu on
completion. Cardinal Developers &
Trust Ltd is expected to build a
2,000 capacity conference center in
Onitsha in addition to the 161 units
of luxury apartments, flats and
terrace houses in Onitsha.
Giving insight into the nature and
benefits of the agreement with
Cardinal Developers & Trust Ltd,
Obiano explained that, “the project
is expected to form a part of the
Onitsha entertainment hub, which
has a world class shopping mall
currently under construction and
financed by Africa Capital Alliance.
This project will generate 400 direct
jobs and 2,000 indirect jobs.”
According to him, on completion, the
hotel is expected to attract more
businesses to the state and
stimulate a new culture and lifestyle
in Onitsha. In addition to catalysing
the interest of investors in Onitsha,
which is in line with the state
government’s ongoing urban renewal
efforts in major cities.
Also speaking at the MoU signing,
the Managing Director of the
company, Mr. Joe Billy Ekwunife,
explained that the Anambra State
Investment Promotion and Protection
Agency (ANSIPPA) through which the
investments came into the state had
received 112 presentations and
proposals from prospective investors
and service providers in the last four
months.
He stated that, “these investors and
proposals are put through a generic
assessment and viability exercise,
which evaluate the investor’s
credibility and competence, financial
capacity and time frame of
investment, among other criteria. At
the moment, seven proposed
investments have been identified as
suitable, credible and value creating
for the indigenes of Anambra State.
It is worthy of note that the generic
assessment and risk analysis exercise
has been carried out.”
ANSIPPA estimates that by the end
of December this year, Anambra
would be $1.5 billion richer in
investments arising from five other
MoUs that would be signed soon.
Anambra State is fast becoming an
investors’ haven of sorts since the
Obiano administration tightened the
noose on crime and insecurity in the
state.
Already, one of the investors, Coched
Farms Project, a subsidiary of the
Coscharis Group, has set up an
office along the Enugu-Onitsha
Expressway, and has since mobilised
workers and to its farm settlement in
Anaku.
On its part, the state government
has moved in to build the capacity
that would support the impending
agricultural revolution, successfully
midwifing the formation of 1,874
cooperative societies that will
catalyse the revolution. Members of
these cooperatives will be trained
and prepared in modern technics of
mechanised farming.
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Obiano for President!!! Allow him finish his four years!

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Obiano for President!!! Allow him finish his four years!

When there is a government with vision to create enabling environment for economic development,the citizens rejoices

All tier of government in the country should emulate the government in Anambra to solve the issue of food insecurity and eradicate the challenges poverty and unemployment pose to the society.

The future of this country is in agriculture.
It is also the right time for private investors to invest into agriculture and join the league of Dangote and Olams Nig Ltd in creatinv employment and wealth.

Check my articles to get info about how you can start investment in crop production such as oil palm,cassava,plantain e.t.c and cost and profit analysis of agro-processing on small,medium and large scale.

You will be glad that you did.

God has blessed Anambra

Impressive