The Enugu State Government, in partnership with Lion Business Park Limited, has formalised an investment agreement by signing a Novation Memorandum of Understanding (MOU) to establish a world-class industrial and commercial hub within the Enugu Industrial Park Free Trade Zone.
During the signing ceremony held in Enugu on Tuesday, Governor Dr. Peter Mbah reaffirmed the administration’s dedication to fostering business growth through improved infrastructure and an enabling environment, encouraging diaspora investors to channel their funds into Enugu State for substantial returns on investment.
Dr. Okechukwu Mbonu, chairman of Lion Business Park Ltd, praised the governor for his visionary leadership and the significant progress made by the administration in a short period.
Mbonu explained the aim of the partnership, stating that the company is committed to developing an industrial and commercial hub set to enhance trade, industry, and economic growth while generating employment opportunities for the youth.
“This strategic collaboration aligns with Your Excellency’s visionary economic agenda to grow the GDP of Enugu State from $4.4 billion to $30 billion (US Dollars) for the overall benefit of the people of Enugu State and Nigeria as a whole,” he remarked.
“It is therefore a watershed moment with this renewed partnership between Lion Business Park and Enugu State Government. It is indeed a case of a promise made and fulfilled, and I have no doubt that you will continue to fulfil your promises to the people of Enugu State,” Mbonu added.
Expressing confidence in the investment, Mbonu noted that the project would utilise the incentives offered in a Free Trade Zone to attract foreign direct investments, promote human capital, and foster innovation and technology development to generate jobs.
He called upon the business community, private sector leaders, and global investors to seize the exceptional opportunities presented by the park, emphasising that the project offers significant benefits extending beyond the state, encompassing the South East region and Nigeria as a whole.
Governor Mbah reiterated the administration’s economic strategy, aimed at elevating the state to the top destination for investors in the country. He asserted that the promise of driving exponential growth could only be realised through investment agreements like the one established with Lion Business Park.
“The Enugu State Government has committed to increasing its stake in this ongoing venture by providing all necessary infrastructure required for the business park to operate effectively. We see the business park as food that is ready. If we were to start the process of building a business park, we know what it would entail—procurement of licenses, obtaining the free trade licence, and securing the dry port licence, as we also have an inland port at the Lion Business Park,” he noted.
Highlighting the strategic location of the park, the governor stated, “The business park is strategically located. It is three hours from Onne Sea Port in Rivers State, less than two hours to Asaba in Delta State, and less than 25 minutes to Akanu Ibiam International Airport, Enugu. We couldn’t ask for a better location for a business park.”
He assured that the administration would persist in making the state appealing to investors by offering the right incentives, including electricity, paved roads, and other essential infrastructure.
In expressing gratitude to the host communities for their support, the governor urged them to continue their cooperation with investors.
