The Nsukka Chamber of Commerce, Industry, Mines and Agriculture (NSCCIMA) has declared that the Nsukka Economic Zone (NEZ) possesses significant untapped potential crucial to achieving Enugu State's ambitious $30 billion GDP target.
This assertion was made during a stakeholders forum held at the University of Nigeria, Nsukka (UNN), which brought together prominent leaders from both public and private sectors under the agenda of the Nsukka Economic Development and Investment Forum (NEDIF).
Untapped Economic Potential
NSCCIMA President, Barr. Sam Otoboeze, emphasized that the Nsukka Economic Zone, comprising Enugu North Senatorial District and Isi-Uzo LGA, could potentially contribute at least 60% to the state's GDP target. He noted that the zone's competitive and comparative advantages in productivity, innovation, and connectivity remain grossly under-utilized.
"The zone's economic potential, especially with regards to productivity, innovation and connectivity, is grossly under-utilized," Otoboeze stated in a communique co-signed with NSCCIMA Director General, Uche Nnadi.
Ambitious Economic Proposals
In his keynote address, Prof. Nnaemeka Ngwu made bold assertions that NEZ alone could surpass the state's $30 billion GDP goal. He proposed establishing five new universities in the zone to complement UNN's economic impact, alongside large-scale economic tree planting initiatives and massive investment in education.
Prof. Ngwu projected that these initiatives could create a daily spending power of N1 billion within the zone, significantly boosting economic activities.
Former Economic Advisor to President Olusegun Obasanjo, Prof. Osita Ogbu, emphasized the need for a fundamental mindset shift to unlock the zone's development potential.
Government Commitment
Governor Peter Mbah, represented by Finance Commissioner Dr. Nathaniel Urama, reaffirmed his administration's commitment to inclusive development across Enugu State. He highlighted achievements in infrastructure, water provision, and smart schools, pledging collaboration with NSCCIMA to accelerate development in the Nsukka zone.
Challenges and Opportunities
The forum identified several challenges hindering the zone's economic growth, including the absence of an integrated development plan, inadequate infrastructure, high insecurity, and lack of data-driven strategy.
However, participants also highlighted vast opportunities in agriculture, education, tourism, and logistics, positioning NEZ as a potential agro-innovation and education corridor for the Southeast region.
Action Plan
To realize the 60% contribution to the state's GDP target, the forum adopted several key resolutions, including:
Mobilizing capital for local businesses
Creating a Joint Investment Facilitation Desk between NSCCIMA and the state government
Advocating for the planting of at least 10 million economic trees in the zone
Establishing a permanent Trade Fair Complex and a Commodity Exchange Market
Dr. Maduka Onyishi, Founder of Maduka University, Ekwegbe, along with other participants, pledged support for investment, monitoring, and policy implementation initiatives.
The forum concluded with a resolution to create a comprehensive roadmap and establish a monitoring committee to track progress and sustain momentum toward achieving these ambitious economic goals.
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