Professor Moughalu
By Sunny A. David
The Federal Government has been asked to develop Nnewi into a full economic zone for sustainable economic development of the Nation.
A former Central Bank Deputy Governor, Professor Kingsley Muoghalu, gave the charge at the second day of Nnewi Investment Summit where he described Nnewi as a commercial hub that requires focused and strategic approach in unlocking its untapped potentials.
Our Correspondent attended the summit, and reports that Professor Muoghalu, who spoke on “The Role Of Public Policy In Developing Nigeria Industrial Hubs”, said political structures, public policies and poor management of foreign exchanges are among daunting challenges affecting Nnewi, the acclaimed commercial hub of Africa.
He however recommended, among other things, strong intervention of government at all levels, constitution of Economic Advisory Council, and States Business Relations Council for the development of industrial and manufacturing sectors of the Nation’s economy.
In her remarks, the Special Adviser to the President on Ease of Doing Business, Doctor Jumoke Oduwole, described Small and Medium Enterprises, SMEs, as life wire of any economy, especially Nigeria
He added that upcoming projects by the Buhari administration are geared towards boosting the contributions of Nnewi to the economic development of the Nation.
The member representing Nnewi North and South Federal Constituency, Honourable Chris Azubogu, stressed the need to scale up businesses in Nnewi, which will create better opportunities for investment and development and promised to give the outcome of the summit a legislative support.
Others who spoke during the summit including the Senior Programme Officer, Ford Foundation, West Africa, Professor Paul Nwulu, and the Regional Coordinator of Nigerian Export Promotion Council, Doctor Arnold Jackson, identified jobs creation as a way of driving away criminalities, calling on the media to push the message to the grassroots.
The Managing Director of the ABS, Nze Uche Nworah, who explained that the state government created agencies such as the Anambra State Investment Promotion and Protection Agency, ANSIPPA and the Anambra State Small Business Agency, ASBA, to support entrepreneurship in the State, said the media, as a critical stakeholder, will continue to play her role to achieve results.
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