Enugu State Governor, Ifeanyi Ugwuanyi,
yesterday declared the state’s Investment
Summit open, lamenting that the present
economic situation in the country had
turned “us into bailout governors.”
Also, from the summit came a charge from
the Chairman, Heir Holdings, Mr. Tony
Elumelu, to governors of the South East
geopolitical zone, to forge a partnership
that will drive the regional economy of the
zone.
The 2-days Enugu State Investment summit
christened Oganiru Enugu State (Progress
of Enugu State), holding at Micheal Okpara
Square, with the theme, “Beyond Oil:
Fostering Inclusive Economic Growth and
Sustainable Development, is aimed at
attracting prospective investors to take over
the operations of identified state owned
companies and corporations through
Privatization and Commercialization Council
inaugurated by the governor.
While delivering his keynote speech,
Elumelu who is equally on the board of
United Bank of Africa, UBA and Transcorp
Hotel, said, “Enugu State is on the path of
economic repositioning with the hosting of
this summit.
“There should be a collaboration from other
sister states in the South East to establish a
framework for regional partnership, which
will position the region to undertake capital
intensive projects that will affect the
economy.
“This summit is a means to an end. The end
is the economic revolution of the state and
beyond. With this summit, the state has
place itself on the path of economic
revolution. Issues that scare away
prospective investors like multiple taxation,
should be avoided like Kaduna State
Government did,” Elumelu said.
Meanwhile, in his speech, Ugwuanyi,
promised to put in place all necessary
legislations and institutional frameworks,
favourable tax regime and special
incentives that would make it easier and
more convenient for the operation of
businesses in Enugu.”
He declared that, “We are indeed telling the
world that Enugu State is ripe and ready for
business and that we are sure that a
substantial exploitation of her potentials,
would impact meaningfully on both the
national and global economy.
“It is our expectation that the key outcomes
from this summit would include
opportunities for joint venture or outright
acquisition through public-
privatepartnership, privatisation and
commercialisation of some state-owned
enterprises.
‘’Indeed as I speak, over 17 potentially
lucrative state owned companies and
industries dealing in diverse areas of
business and production, have already been
listed for commercialisation or
privatization,” he said.
The governor added that the 17 potentially
lucrative state owned companies for
privation and commercialisation includes;
Adada Rice Production Nigeria Limited,
Premier Cashes Limited, Hotel Presidential
Limited, Nike Lake Resort Hotel, Ikenga Hotel
Limited, Sunrise Flour Mills, Enugu Marketing
Company.
Others are Niger Gas Limited, Niger Steel
Limited, Vanguard Construction/ Furniture
Company Limited, Aluminum Product
Company Limited, Enugu Transport
Company Limited, Enugu Vegetable Oil
Production Limited, United Palm Product
Limited, among others. https://www.today.ng/news/national/106071/weve-been-turned-bailout-governors-ugwuanyi

Lolz

...

That is what you get when you Stand with Buhari….

I think is not a bad idea by the South-eastern states to undertake capital project.

While the shallow minded will quickly try to pin our woes on Buhari I like to remind them Buhari didn't cause our dependence on oil sales or crash the oil prices.
If the state govts had, over time, invested to make profits, just 30% of their capital expenditure by now they will all be reaping mad benefits and not seeking bailout to pay dormant workers.
When the money was in excess it was all about sharing n stealing at various levels.