The Anambra State government announced that it had secured over $500 million in investment funding at its second investment summit on November 14.
Managing Director of the Anambra State Investment Promotion and Protection Agency (ANSIPPA), Mr Mark Okoye, disclosed that this funding will boost sectors of the state economy such as healthcare, tourism, natural gas, and urban development, saying with the outcome of several investment drives, “Anambra is poised to become a leading economic hub in Nigeria.”
The state holds 30 trillion cubic feet of natural gas, about 15% of Nigeria’s total reserves. He explained, “We plan to develop backbone gas pipelines to maximize gas distribution efficiency.”
Agreements signed include building a cancer treatment facility, managing the Awka International Convention Centre, revitalizing the Agulu Lake Hotel, and creating a statewide gas distribution system.
The summit theme, “Changing Gears: Accelerating Anambra’s Economic Transformation,” attracted development partners, financial institutions, and industry leaders to explore investment opportunities.
“With over $500 million in commitments and strategic partnerships, we invite investors to join this transformative journey,” said Mr. Okoye.
Focus on Infrastructure
Last year, the state’s investment summit raked in a $250 million commitment from Afreximbank to fund major projects, including the Anambra Mixed-Use Industrial City (AMIC) and the Anambra Intra-City Rail.
“AMIC will catalyze industrialization, focusing on imports, exports, and innovation,” Okoye remarked. He claimed the master plan for AMIC is ready for groundbreaking.
Okoye mentioned, “The African Development Bank supports infrastructure, including roads and utilities for the Special Agro-Processing Zone within AMIC.”
Anambra State is also partnering with the UNDP to create a hub for technology and entrepreneurship. Agreements with Genesis Energy and VFD Energy will develop Independent Power Plants.
As Governor Chukwuma Soludo‘s administration draws to a close, opposition candidates are intensifying their campaigns ahead of the rescheduled elections on November 25, 2025.
Soludo had pledged “transforming Anambra into a livable and prosperous smart megacity” since coming to office in 2022. His governorship opponents are sure to argue that he has yet to deliver on his promises, instead focusing on investment paperwork three years into his tenure.
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