Osinbajo ― Southeast as strategic industrial, trade hub
Written by freshadmin3 on August 25, 2021
Vice President Yemi Osinbajo while detailing some of the ongoing and completed Federal Government projects in the Southeast affirms that the Buhari administration considers the zone a strategic industrial, trade hub, and a major player in Nigeria’s economic growth.
The consideration and the projects would also help in lifting people out of poverty.
Professor Osinbajo stated this earlier on Wednesday 25 August, 2021 at the inauguration of two completed projects in Anambra State: the MSMEs Shared Facility at the Ogbunike Leather Trading Cluster, and the Awka 120MVA 132/33kV Sub-Station.
The VP observed that the Second Niger Bridge Project which connects Asaba in Delta State and Onitsha in Anambra State has now achieved 65 per cent completion and will be completed by October 2022.
Besides, he noted that the concession of the Onitsha Inland River Port is in its final stages, while both the draft Concession Agreement and the Full Business Case (FBC) have been transmitted to the Infrastructure Concession Regulatory Commission (ICRC) for necessary action.
According to Osinbajo, “let me also assure you of this administration’s commitment to seeing through the major infrastructural projects that will have a transformative impact on this zone. The Second Niger Bridge Project which connects Asaba in Delta State and Onitsha in Anambra State has now achieved 65 per cent completion.
“By the time it is completed in October 2022, the Project will offer significant socio-economic benefits for the contiguous States and indeed the entire nation by easing traffic flow, improving road safety, and creating greater opportunities for residents and neighbouring States, thereby regenerating economic life.”
Continuing, the VP noted that the concession of the Onitsha Inland River Port is in its final stages, adding that once the Port becomes operational, it will effectively decongest the Apapa ports and ultimately translate into a reduction in the cost of imported goods.
“The cumulative effects of all these measures is to open up the Southeast and our resolve to pursue these projects to their completion is an indication that the administration sees the zone as a strategic industrial and trade hub. They also demonstrate our conviction that Anambra State and the Southeast at large, have a huge role to play in our drive to foster economic growth and lift our people out of poverty. The commissioning of this facility here today is a milestone in our nation’s economic adventure,” he says.
On the Ogbunike Shared Facility project, the Vice President said the initiative would transform businesses within and around the cluster, hugely increasing their production capacity.