Enugu State Government plans to privatize 17 dormant industries in the State to boost the continuously Internally Generated Revenue (IGR) and thus augument the Federal allocations which have affected the State revenue. This will also enhance economic growth in the state and provide employment for the youth. This plan would be on top of the list of items for discussion at a two-day investment summit titled: ‘Oganiru Enugu’, scheduled to hold from 12th to 14th of April, 2016 within the state. This was made know by the Director-General of the Enugu State Investment Summit, Mr. Ikechi chioke in a press briefing. He revealed that some of the industries to be affected are: Hotel Presidential, Enugu, Niger Steel Company, Enugu, Sunrise Flour Mills and Enugu State Vegetable Oil Limited (AVOP), Nachi.
Others are: Adarice Company; United Palm Produce; Premier Cashew Industries; Aluminum Factory, Obe, Ikenga Hotels, Nsukka among others. He noted that the summit would take the form of ‘talk show’, adding that the intention is to bring in investors from various parts of the world to invest in ten core areas of solid minerals and mining power generation and distribution, Agriculture and Agricultural processing tourism and hospitality as well as health sector. Others include ICT/media and entertainment; free trade zone manufacturing and industrial parks as well as real estate and tertiary education.
According to Mr, Chioke who is the chairman of the Enugu State Economic Committee on Commercialization and Privatization inaugurated few weeks ago, these ten sectors, if well harnessed, can yield revenue for the state and boost the activities of the Small and Medium Enterprises (SME’s). This, he also maintained, is a better way of attracting development in the state.
In terms of the funding of the summit, Mr. Chioke revealed that part of the fund for the summit has been provided by the DFID. He made it known that the summit is mainly aimed at attracting private individuals and organizations including foreigners so as to achieve its desired goal. According to him this was the outcome of the recent visit to Dublin by the Governor and some members of the economic team.