The Enugu State Government has signed a landmark Memorandum of Understanding (MoU) with Lion Business Park Limited to develop a world-class industrial and commercial hub within the Enugu Industrial Park Free Trade Zone. This ambitious initiative is designed to boost the state’s Gross Domestic Product (GDP) from $4.4 billion to an estimated $30 billion.
Governor Peter Mbah, speaking during the signing ceremony on Tuesday at the Government House in Enugu, noted that the project would leverage Free Trade Zone incentives to attract substantial foreign direct investment.
According to the governor, the industrial hub will promote human capital development, foster innovation and technological advancement, and generate employment opportunities—driving shared economic prosperity across Enugu State, the South-East region, and Nigeria at large.
“This industrial park is in full alignment with our administration’s economic blueprint, which seeks to transform Enugu into the leading investment destination in Nigeria,” Mbah stated.
Government’s Infrastructure Commitment
Governor Mbah emphasized that achieving the state’s ambitious economic growth target depends on strategic investment deals like the one signed with Lion Business Park.
“The Enugu State Government is committed to increasing its stake in this project by providing all the necessary infrastructure required to ensure the business park becomes fully operational,” he said.
Strategic Location for Trade and Logistics
The governor highlighted the strategic positioning of the park, explaining that the site was selected through a careful process of due diligence by a team of economic experts.
“The business park is strategically located—three hours from Onne Seaport in Rivers State, less than two hours from Asaba in Delta State, and just 25 minutes from Akanu Ibiam International Airport, Enugu,” he said.
Creating an Investor-Friendly Environment
Governor Mbah also pledged to continue making Enugu an attractive destination for investors by offering vital incentives, including reliable electricity, well-paved roads, and other essential infrastructure.
He extended his appreciation to the host communities for their support and urged continued cooperation with investors to ensure the project’s successful implementation.
Private Sector Commendation
Chairman of Lion Business Park Limited, Dr. Okechukwu Mbonu, lauded Governor Mbah for his visionary leadership and the remarkable progress recorded under his administration in a short period.
Speaking on the purpose of the partnership, Dr. Mbonu reiterated the company’s commitment to developing a dynamic industrial and commercial hub that will stimulate trade, drive economic expansion, and create employment opportunities for the youth.
“This strategic collaboration aligns with Your Excellency’s bold economic agenda to grow Enugu State’s GDP to $30 billion, ultimately delivering tangible benefits to the people of Enugu and Nigeria as a whole,” Mbonu stated.
