Investment Opportunities In Anambra State
Anambra State, Nigeria is one of the five states that make up the South East geopolitical zone. With 21 local government areas, Anambra has interstate boundaries with Delta to the West, Imo and Rivers to the South, Enugu to the east and Kogi to the north. The state capital is Awka, with Onitsha and Nnewi as two of the other renowned commercial cities.
The State covers an area of 4,844km² (1,870mi²) or 0.5% of Nigeria’s total land area. It has tropical rain forest vegetation and humid climate with average temperature of 300°C (870°F). With a population of over 5 million, Anambra is 3% of Nigeria’s population with a high density of almost 1,000 people per KM². Hills, Lakes, caves, forest reserves and tablelands constitute some of its natural features.
Anambra State’s vegetation is predominantly grassland, with scattered forests and woodland areas as well as tropical rain forest. Agriculture is important in the State: oil palm, corn, rice, yam, tomatoes, and cassava are its main cash crops, while fishing in inland and waterways is a significant commercial activity.
The principal minerals found in the state are gypsum, kaolin, bauxite, iron ore and lead. Anambra State also has natural gas and crude oil reserves. Major industries include breweries, automobile, pharmaceutical, and tourism. Locally produced sculptures of wood and metal are also of commercial importance.
The economic climate is highly favourable with a combination of large markets, abundant skilled labour force, entrepreneurial ability, and easy access to capital and natural resources.
The City of Onitsha has strong trade links with many parts of the country and the world. Its market is the largest in West Africa. Nnewi, the second most economically vibrant centre after Onitsha, has virtually become the automobile spare parts market for the nation and a fast growing industrial centre. The State has business environment that is conducive and a number of investment incentives.
Key Areas Of Interest
- Oil & gas
- Trade & Commerce
- Power and Transportation Infrastructure
- Real estate, Hospitality and Business Tourism
- Information, Communication and Technology
Expectations From Prospective Investors
- Project description
- Company profile and track record
- Total projected cost of investment
- Funding arrangement(Equity & Debt ratio)
- Required land size
- Land justification (site plan/arrangement)
- Verifiable evidence of funding capability /source of funding
- Business plan & financial projections
- Project value chain
- Job creation potential
- Preferred location
- Company balance sheet
Expectations From Anambra State
- Provide primary infrastructure including project land
- Provide the comprehensive survey plan of the allocated land and corresponding co-ordination
- Facilitate the administration of statutory permits, tax duty waivers, concessions and authorizations
- Provide security for lives, assets and investment
- Ensure good community relations and insulate investors from undue community harassment.