Enugu: APC guber candidate to set up development bank if elected

The All Progressives Congress (APC) gubernatorial candidate in Enugu State, Chief Uchenna Nnaji, said yesterday that if elected, his administration would establish the State Development Bank of Enugu with a capital of 250 billion naira to support state enterprises.

He said this while presenting his program to the business community of Enugu under the aegis of the Enugu Chamber of Commerce, Mines and Agriculture (ECCIMA) and the Coalition of Enugu for Business and Professional Association (ECOBA), pointing out that his administration would revitalize abandoned industries. , build new ones in partnership with the private sector and reduce unemployment to the minimum level in four years.

"I know that financing is a big program, the government will be a catalyst for industrial development.

We will help small, medium and micro businesses grow. To this end, we will establish the Enugu State Development Bank, which will be registered with the Corporate Affairs Commission, the Security and Trading Commission and other relevant bodies.

“The government will own 10% of the capital of the Development Bank, while the people of Enugu and other private investors will own 90%. All the companies we invest in, we do it with the private sector investing 10%, but when the company starts to do well, we divest and move on to another company,” he said. /p>

Nnaji described himself as a complete "Enugu boy", having had his primary, secondary and higher education (University of Nigeria Nsukka, UNN) in the state before going into business.

The APC gubernatorial candidate has attacked his Peoples Democratic Party (PDP) counterpart, Mr. Peter Mbah, who he says prides himself on being an oil and gas guru, noting that the PDP candidate was just a simple oil dealer, who came across 'sudden money' and used it to build oil tank farms.

Nnaji said he is the one who is really interested in oil and gas business as he owns substantial shares in oil wells in Nigeria as well as shares in refineries outside Nigeria.

"I'm the only businessman running for governor; PDP candidate is not a businessman, he didn't grow up in business, he only blocked money and started marketing oil Those of us who work in the oil and gas industry know what that means, building an oil tank farm is just one arm of oil marketing and gas."

He listed the problems of Enugu State to include mismanagement of resources, multiple taxation and lack of capacity of government officials to carry out their mandate.

He promised to solve the state's ongoing water problem by revitalizing the seven water projects, promising to create 10 hectares of land in each senatorial district of the state and use the resources governments to prepare the land and allocate it to young people and other farmers to cultivate with financial support, improved seedlings and machinery so that the state can produce for local and export.

He said he would tackle insecurity through job creation and increase economic activities in the state while the state security system would be revamped and funded, using personnel retirement security in the state.