Anambra Government’s Industrialisation Drive yields $5 billion in Foreign Investment

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ANAMBRA State Government says the industrialisation policy adopted by the government attracted more than $5 billion in foreign direct investments.

Governor Willie Obiano said this at the opening ceremony of the 24th seminar for Finance Correspondents and Business Editors, FICAN, holding in Awka, the Anambra State Capital.

The governor, who was represented by Tony Nnacheta,state commissioner for Information and Communications Strategy, noted that his government’s economic blueprint was set on four pillars — Agriculture, Industrialisation, Oil and Gas, Trade and Commerce.

The idea, he said, was to make the state and Anambra people to attain economic prosperity and assume industrial `haven status’.

He said that 40 months down the line, most of these objectives had been realised.

According to him, his government’s decision to rollout an economic stimulus package was designed to cushion the effect of worldwide economic recession on the most vulnerable groups of the Anambra society.

Gov. Obiano expressed joy at choice of Awka for the retreat, nothing that it represented a measurable endorsement of the policies and programme of the state government by the Financial Correspondent and Business Editors Association of Nigeria, FICAN, and other corporate leaders and groups.

He assured the seminar participants of their security while in the state, reminding them that his government’s huge investment in security was instrumental to the peace existing in the state.

He also said that organisations would be coming to the state in the coming weeks for their events.

In a keynote address, Godwin Emefiele, governor of the Central Bank of Nigeria, said that recent development in the international market had exposed the dangers of the country running a mono economy and recommended diversification of the economy.

He argued that there was need to establish appropriate structures; robust domestic production while using imports to supplement shortfalls of final products.

The governor, who was represented by Isaac Okoroafor, acting director, Corporate Communications of CBN, listed many initiatives introduced by the apex bank to increase domestic private industrial activities.

He, however, added that structurally induced inflation had often posed major challenge to these efforts.

The 24th Seminar of FICAN, which began on Wednesday, Sept.13, would end Sept. 16, 2017.

The event was being attended by participants from across Nigeria.

– Sept. 13, 2017 @ 18:11 GMT

 

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