The Lion Business Park, LBP, a commercial initiative promoted by Lion Business Park Ltd and the Enugu State Government of Nigeria on Tuesday was unveiled by the Enugu State Governor, Ifeanyi Ugwuanyi.
The Park sits on two thousand (2000) hectares of land within the Enugu Free Trade Zone near popular 9th Mile Corner, Enugu is the biggest economic hub in the South-East geopolitical zone in Nigeria with an estimated investment portfolio of $12 billion (USD) and creation of over 150,000 direct and indirect employment opportunities.
The LBP which is market-oriented intends to make available market and marketing opportunities to both the manufacturers and dealers thereby enabling manufacturers and investors to secure good penetration of the West Africa market with an assurance of return on investment.
Speaking during the event, Dr. Okechukwu John Mbonu, Chairman of Lion Business Park revealed that the idea was conceived in 2016 at the Enugu State Investment Summit christened ‘Oganiru Ndigbo’ organized by the State Governor.
“It all started in 2016 when Enugu State Government organized an investment summit, which attracted participants from within and outside Nigeria; the central theme of the summit was on how to catalyze the economy of Nigeria and in particular South Eastern region, using the advantages offered by Enugu State as a peaceful central location,” Mbonu said.
Mbonu further explained that the Park was conceptualized to bridge the significant manufacturing gap in Nigeria and West Africa sub-region by co-locating manufacturing industries with wholesalers that sell imported, assembled, and locally manufactured goods and services.
Delivering a goodwill message, the Managing Director of Nigeria Export Processing Zones Authority, NEPZA, Prof. Adesoji Adesugba represented by Mrs. Obiageli Obioha of Enugu Industrial Park Free Trade Zone stated,
“The Park is a welcome development as it will encourage in-Country manufacturing which aligns with the current drive by the Federal Government to focus the economy on local production, moving away from Import dependency”.
“The agency, therefore, encourages captains of industry, local and foreign investors, other individuals, groups and governments to take advantage of the incentives offered by the scheme to bring about rapid socio-economic and industrial development in the South East region and Nigeria by extension,” she said.
On his part, the Director-General of the National Office for Technology Acquisition and Promotion, NOTAP, Dr. Dan-Azumi Mohammed Ibrahim promised that the agency will support and assist Lion Business Park realize its set objectives.
“NOTAP is committed to any effort to reduce unemployment and grow the nation’s economy, and so we will support and assist Lion Business Park to realize its set objectives,” Ibrahim said.
Unveiling the Park, Gov. Ugwuanyi described the event as historic, a novelty, especially in Eastern Nigeria.
“Lion Business Park presents an opportunity for us to key into Mr. President’s vision of diversifying the economy of Nigeria through the promotion of local production of goods and services for export, creation of employment and stimulation of economic growth”.
Ugwuanyi further stated that Enugu State Government will continue to play her role as a business and investment enabler through provision of robust infrastructure, peaceful/secure operating environment for business/investment, consistent and favorable policies, facilitation of all bureaucratic processes required for starting and doing business through open One-Stop-Investment-Center, OSIC, under the Enugu State Investment Development Authority, ESIDA, friendly tax regime and professional regulatory oversight as significant co-factors for investment inflow.
Dignitaries at the event are Sen Anyim Pius Anyim, former Senate President of Nigeria; members of the Enugu State House of Assembly; Local Government Council Chairmen; Arch. Ferdinand Agu former Director-General of Nigerian Maritime Administration and Safety Agency, NIMASA; Mr. Martin Orakwe, Senior Special Assistant to the Governor on Free Trade Zone; local and foreign investors, amongst others.
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