₦airaland Forum

Update from the ongoing construction of Awka fun city

Update from Ekwuluobia Anambra state

Update from the ongoing construction of the largest entertainment city in the region - the Awka fun city.

Ekwueme Square dual carriageways Awka is undergoing reconstruction.

Update on ongoing construction of EBD Boulevard Awka

Update from Ekwuluobia

Update from the ongoing Ekwuluobia flyover and adjoining dual carriageways. Anambra 4th city is emerging.

Latest update from the ongoing biggest entertainment and hospitality center in the region - the Awka fun city.

Soludo’s government signs 10 Memorandum of Understanding with development partners at the Second edition of the Anambra investment summit

They are:

1: Development of Agro Land by National Agricultural Land Development Authority (NALDA)

2: Development of Independent Power Plants (IPPs) by Genesis Energy and VFD Energy

3: Gas Reticulation Project by Axxela Limited

4: Development of Onitsha New City by MP Infrastructure.

5: Development of Awkuzu Park by Marich International

6: Anambra Oncology Center by JNC International

7: Anambra Development Investment Corporation (ADIC) by CardinalStone

8: MakerSpace Hub by UNDP

9: Awka International Hotel by Marriott

10: Upgrade and Rebranding of Agulu Lake Hotel by Protea

Anambra Investment Summit 2024 holding at International conference centre Awka the state capital.

Aircraft to Land at Night at Chinua Achebe Airport as ANSEC Awards Key Contracts for Development and Security

In a significant move, the 34th Anambra State Executive Council (ANSEC) has adopted a series of measures to enhance security and development across the state.

Key Highlights:

1. Enhanced Security Measures: ANSEC has approved both kinetic and non-kinetic strategies to tackle insecurity, ensuring a safer environment for all residents.

2. Master Plan for Heritage Sites: A contract worth ₦125,807,290.63 has been awarded to Red Clay Consulting to develop a responsive and commercially viable master plan for Anambra's heritage sites and tourist attractions.

3. Infrastructure Upgrades:
Chukwuemeka Odumegwu Ojukwu University Teaching Hospital: The entrance gate will be reconstructed by Triseconds Resources Ltd. for ₦112,700,000:00 with completion expected in two months.

4. College of Nursing Sciences, Isuofia: Additional property clearing and fencing extension will be carried out at a cost of ₦150,692,345.91.

5. Airfield Lighting at Chinua Achebe International Airport: To facilitate night landings, a contract for the airfield lighting project has been awarded to Mercy Aviation Communication Electronics and Industries Nig Ltd. for ₦489,716,250, with a completion timeline of two weeks.

7. Power Supply Enhancements:
- Anambra Mix-Use Industrial City (AMIC), Ogboji: FrankTorch Nig Ltd. will extend the 33 KV line from the Oji-River sub-station for ₦1,742,706,051.91. Zamic Ventures Ltd. will install a dedicated injection sub-station for ₦1,240,500,000.

8. Chukwuemeka Odumegwu Ojukwu University College of Medicine: El Bukelz Nig Ltd. will supply and install a 200 KVA/11KV transformer for ₦42,759,372.

9. Naval Base Renovation The Naval Base Complex at Iyiowa Odekpe, Ogbaru, will be renovated by El Bukelz Nig Ltd. for ₦76,244,438.35, with a two-month completion period.

10. Alex Ekwueme Square: Pazim Engineering Ltd will supply and install UV-resistant chairs at Alex Ekwueme Square, Awka, for ₦715,119,562.50, to be delivered in six weeks.

11. Anambra State Solution Data Platform: Octave Analytics and Insights Ltd will develop this platform for ₦97,087,625.

Signed,
Law Mefor, PhD
Commissioner for Information
November 12, 2024.

Reno go explain taya haha

Update from the ongoing construction of the biggest and most beautiful government house in the region.

Chinua Achebe international airport road undergoing beautification.

Update from the ongoing construction of biggest entertainment center in the region - the Awka fun city.

Completion of rural infrastructures connecting 12 out of 15 communities with 40.6 km of roads in Orumba South LG.

Update from the ongoing construction of Awka mega mall, the biggest east of the Niger.

The dualisation of Awka-Agulu-Ekwulobia-Uga Road, a key infrastructure project initiated by Gov. Soludo, is progressing at an impressive pace.

Awka fun city taking shape. The biggest entertainment and relaxation center in the region.

Ok

Ongoing construction of the imposing access roads and gate house to the Awka fun city.

Reconstruction of the 6 lanes EBS Boulevard Awka begins.

“This is Onitsha, the greatest Igbo city and the economic capital of the eastern Nigeria. Onitsha is like the Lagos of the eastern region.

“This is Onitsha, the greatest Igbo city and the economic capital of the eastern Nigeria. Onitsha is like the Lagos of the eastern region.

Onitsha is a great city with different neighborhoods for different classes of residents. Here’s the low density area of Onitsha. Some may mistake this for highbrow Lekki or Maitama but this Onitsha

Nigeria, like the rest of the world, grapples with escalating economic challenges stemming from the lingering effects of the COVID-19 pandemic, heightened geopolitical tensions in Europe and the Middle East, as well as the strains on global supply chains. Compounded by the impacts of climate change, particularly extreme weather events, Nigeria’s economy, heavily reliant on primary production, faces heightened vulnerabilities. While the global economy has been slow to adapt to the challenges, Nigerian economic growth has shown some level of resilience in the face of these headwinds. Nigeria’s economic growth, albeit positive, has not been strong enough to improve the living standard of the average Nigerian in a meaningful way. This strong economic growth is further hindered by negative perceptions of the nation’s business environment. Therefore, fostering shared prosperity hinges on substantial improvements in the ease of doing business across the subcontinent, with a keen focus on micro, small, and medium enterprises (MSMEs).

Nigeria boasts a vast MSME sector, housing over 39.6 million businesses, which make up 96.7 percent of all enterprises in the country. Notably, 67 percent of these businesses are owned by young entrepreneurs. In 2023, MSMEs significantly contributed to Nigeria’s GDP, accounting for over 43 percent. Particularly noteworthy is the micro-segment, which represents 96.9 percent of these businesses and generates nearly 90 percent of the country’s employment opportunities. As MSMEs thrive, they not only foster inclusive growth but also create pathways to prosperity for many, contributing to inclusive growth nationwide. So, the right environment must be created for them to thrive. To this end, the ease of doing business at Nigeria’s subnational level will continue to be a topic of interest to investors and entrepreneurs in 2024 as a way of meandering through the harsh economic realities.

The “Ease of Doing Business” (EoDB) report, conducted annually by the World Bank, assesses a country’s attractiveness for entrepreneurial ventures and investment. Covering approximately 190 countries and selected cities at sub-national and regional levels, the report measures the costs to firms of business regulations. This study has become a flagship programme of the World Bank Group in private sector development, focusing on domestic micro, small, and medium-sized enterprises (MSMEs). It evaluates regulations across various stages of a business’s lifecycle, including starting a business, obtaining construction permits, getting electricity, property registration, getting credit, investor protection, tax compliance, trading across borders, enforcing contracts, and resolving insolvency. The EoDB report provides quantitative indicators to capture essential aspects of the regulatory environment, offering insights into areas where reforms may be necessary to improve the ethos of doing business.

Since 2015, Nigeria’s Federal Government has recognised the importance of monitoring the subnational Ease of Doing Business (EoDB) performance and has implemented measures to enhance it. This includes establishing the Presidential Enabling Business Environment Council (PEBEC) to address bureaucratic constraints and improve stakeholders’ perceptions of Nigeria’s business environment. Since 2017, PEBEC’s framework has extended to the sub-national level, encompassing all states in Nigeria.

To improve the business environment, it needs to first be rigorously assessed against the challenges identified. Our analysis aimed to provide a comprehensive overview of the business environment in selected subnationals across the nation, focusing on regulation, tax policies, infrastructure, and access to finance.

Government regulations

Lagos State: The state has been very proactive in implementing business-friendly regulations, such as streamlining the process for business registration and obtaining construction permits. The state government’s efforts to digitise services have significantly reduced bureaucratic bottlenecks.

Kano State: This is another state that has made significant strides in simplifying the property registration process, but challenges persist in contract enforcement and obtaining electricity connections. The state government is urged to triage improvements in these areas to enhance the business environment.


Tax Policies:

Rivers State: The state has implemented several tax incentives to attract investment, particularly in the agriculture and manufacturing sectors. The state’s investment in tax administration technology has further improved compliance and transparency.

Anambra State: The state has been well commended for its efforts in simplifying tax processes and reducing tax burdens on small businesses. The state’s progressive tax policies have contributed to a more favourable environment for investors and entrepreneurs.

Infrastructure

Ogun State: The state has made a substantial investment in infrastructure, particularly in transportation and energy. The construction of new roads and bridges has enhanced connectivity and logistics, benefiting businesses operating in the state.

Akwa Ibom State: Akwa Ibom has seen notable progress in expanding access to reliable power supplies, a critical factor for businesses. The state government’s focus on improving infrastructure has positively impacted the ease of doing business in the state.

Access to Capital

Abuja (Federal Capital Territory): The FCT has witnessed an increase in the availability of financing options for businesses, supported by the preponderance of financial institutions and investment firms, further bolstering entrepreneurship in the area. More so, the government initiative to facilitate access to credit has further stimulated innovation and enterprises.

Enugu State: The state’s efforts in boosting financial inclusion and supporting small and medium-scale enterprises through targeted loan programmes and partnerships with financial service providers have accelerated the state’s performance on the subnational doing business ranking.

Improving Nigeria’s business and investment climate

While progress has been made in various regions, challenges still persist in different aspects of the subnational business landscape. Improving the subnational EoDB and investment climate is crucial for economic growth and attracting investment. Some considerable strategies that can be deployed include

Regulatory reforms: The government at the centre needed to collaborate with the subnational to implement business-friendly reforms that will help streamline administrative processes, reduce red tape and bureaucracy, and simplify licensing procedures. This will enhance transparency and accountability across subnational regulatory agencies.

Infrastructure development: Given the importance of infrastructure in driving overall satisfaction with subnational ease of doing business, critical investment in infrastructure should be a key priority for all levels of government. Reliable infrastructure attracts investors and facilitates seamless business operation

https://businessday.ng/research-post/article/improving-subnational-ease-of-doing-business-rankings-to-unlock-regional-prosperity/?amp

Major roads, markets, parks deserted as Anambra state hold local government election.

Update on the construction of the biggest and most beautiful government house in the region