For over two years, the weekly sit-at-home and widespread insecurity stalled development in the Southeast region with tonnes of revenue lost by all. But things are beginning to look up following the fresh efforts to instill law and order, and with valuable lessons learnt for the horrible past, LAWRENCE NJOKU reports.

With over N7.6 trillion loss in productivity and investment as of August this year, following the weekly sit-at-home declared by supporters of Biafra Republic, Southeast governors and stakeholders in the region are rallying support and mobilising investment efforts that will stimulate the economy and create development in the region.

The Guardian checks shows that no less than three security and economic summits have been held in Enugu, Anambra and Imo by the governors and leaders to reawaken the economy, taking advantage of the relaxed atmosphere two years after the infamous sit-at-home exercise began.

At each of these summits, the economic potential inherent in the region, the capacity of the governors to continue to sustain peace and strategies that have reduced insecurity, collaborations among others, take the centre stage.

Perhaps, realising the futility in growing an economy that could work for the people and compete with the rest of the world, Enugu State governor, Peter Mbah on assumption of office on May 29, decided to end the weekly sit-at-home in the state, following his discovery that a whopping N10 billion was lost any day it was observed.

Mbah had head-on tackled the promoters and enforcers of the illegal exercise and unbanned civil servants from coming to work and ensured that businesses that hitherto went on holiday on Mondays began to reopen, just as he has sustained provision of security of lives and property in the state.

With the success he achieved in restoring activities on Mondays and stabilising the security of the state, Mbah had moved and convened an investment roundtable that attracted investors and technocrats from various fields on September 1.

At the event, Mbah reeled out his ambitious economic blueprint, which he said would disrupt the existing economy and mark the beginning of a new phase to have an economy that will be growing at $30 billion GDP from current N4 billion.

He showcased Enugu’s potential to the representatives of the World Bank, African Development Bank (AfDB), African Export-Import Bank (Afrixembank) and several other investment bankers, stressing that the state sits on the richest coal deposit in Nigeria and was given a spot in the old order owing to the vastness of the resource.

He stated that his administration had a project plan that met every investor, cutting across the 17 local government councils of the state, including construction of a new cargo terminal runway and modernisation of the Akanu Ibiam airport, as well as turning the airport into an airline maintenance hub.

He mentioned the Enugu Inland Waterways project at Ogurugu Inland Port facility in Ette, electric powered light rail system that will connect major economic centres and ports and many others.

“The development of the State’s Integrated Sector-based Productivity Growth Strategy placed squarely into focus those sectors that may hold latent comparative advantage and the need for a systematic approach and practical steps to scale up Enugu’s industrial base.

“Agriculture and agro-allied industrialisation, energy and mineral resources, transportation and logistics, ICT, creative industries, tourism and hospitality are among the priority sectors identified in the state’s integrated sector based Productivity Growth Plan, which will be supported by the expansion of urban and rural infrastructure,” he told the gathering.

Mbah has since advanced his quest for a new economy in the state with the flag off of reconstruction of 71 urban roads, new Enugu city and 40 kilometer dual carriage way that will start from Owo in Nkanu East Council through communities in IsiuzoCouncil to the Northern part of the country.

The investment roundtable in Enugu was shortly followed by another one held in Anambra State convened by Governor Charles Soludo at the International Conference Centre, Awka, that served as conduit to connect visionary investors with transformative potential.

Coming on the heels of two Town Hall meetings that Soludo held earlier this year with Anambra businessmen and professionals in Lagos and Abuja, the investment summit in the homeland proved that the state is now secured to host investors.

The governor used the event to emphasise that Anambra State should not only be a transit lounge, but a destination hub for investors, adding that the vision of his administration is a thriving Anambra State powered by innovation, infrastructure and inclusivity, where everyone is welcome to live, work, learn, invest, relax and enjoy.

He outlined the state’s strategic advantages, from its strategic location within Nigeria, $20 billion economic size, its 8.5 million population to its improved security, better road and power infrastructure, robust agricultural sector, burgeoning technology hub, and a skilled and youthful workforce hungry for opportunity.

The summit rose with 13 Memorandum of Understanding (MoU) with local and international organisations that included an omnibus financing scheme with the Cairo-based Afrexim Bank to provide funding on good terms for many projects about to take off in the state.

Afreximbank, which offers project preparation, advisory services, and a debt financing programme of up to $200 million will also establish bankability for critical projects such as the Ikenga Mixed-Use Industrial City, the Anambra Export Emporium, and the AkwaihediUnubiUga Automotive Industrial Park.

“With peace and security gradually returning to the state, with our youth beginning to realise that their future cannot thrive in an environment of widespread insecurity, we can look forward to a similar $400 million industrial park project in collaboration with the state. It makes business sense to do so, and we have advanced discussions with Anambra State Investment Promotion and Protection Agency (ANSIPPA) to create over 10,000 jobs while bringing export-oriented businesses to Anambra State”, the Executive Director of the bank, Mrs KanayoAwani assured the state government.

The Awka, Anambra State summit was closely followed by the Southeast economic and security summit organised by the Southeast Governors Forum and leadership of Ohanaeze Ndigbo at Owerri, Imo State.

It was to chart a new course and to reach a consensus on a road map for a joint development and security agenda, facilitate the necessary steps to re-establish peace and security in the zone and restore it as a leading economic competitor and stable stakeholder in the Nigerian federation, and indeed Africa.

One after another, the governors and leaders identified gaps that have fuelled insecurity and decimated the economy of the region such that has made it difficult for investors and businesses to thrive in the region.

Although they agreed that the region remained one with abundant human and natural resources, they insisted that the struggle for power and other material quests have greatly divided Ndigbo.

Director General, World Trade Organisation (WTO), Ngozi Okonjo Iweala, had situated the under-development of the region to its leaders undermining the residents, adding that there was need to look inwards to grow the region.

She stated that the region has a potential to become a good place for governance, stressing that it required the collective efforts of her young and old to become a leading economic region in the country.

At the well attended summit, Governor Francis Nwifuru of Ebonyi State suggested that Ndigbo needed to believe in themselves, while host governor, Uzodimma, said the region would do better if they joined hands to overcome its security challenges to be able to forge ahead.

Governor Mbah suggested regular meetings, while Alex Otti of Abia called for regular engagements with the youths whom he said formed the bedrock of future leadership of the region to be able to douse the angst in the zone.

Governor Soludo, who opined that the cooperation of the entire region is needed to move forward, insisted that the Igbo need the rest of the country in all its developmental efforts.

A political analyst, Greg Okwuche, told The Guardian that the governors should not grow weary of coming together to discuss issues affecting their various states and the region at large, stressing that leadership gaps created part of the socio-economic challenges of the zone.

He, however, stressed, “Now that they have realised that there is  security need in the southeast, let them focus on sustaining the security arrangement that will address the wanton killings, kidnapping, robberies, rape and destruction of property that have even made indigenes of the region relocate to other parts of the country. I sincerely believe that when our own people return to their roots, it will help attract others to the region.”

A member of the Southeast Chamber of Commerce, Industry, Mines and Agriculture (SECCIMA), Justice Ibekwe, stated that the economy of the region is now at its lowest ebb, stressing that collaboration of the governors and leaders of the region was necessary to restore it.

“I can confidently tell you that in the last two years, no investment has entered the Southeast region due to insecurity. In the same vein, our infrastructure is collapsing; businesses that thrive by road can no longer find access while few airlines operate the Enugu and Imo airports.

“The rail system is gone; we cannot make use of the waters we have to transport goods, not to talk about using electricity for production among others. So, I think it is in the interest of the zone now that our leaders are beginning to see and talk about the decay in the region,” he added.