…NGX, UBA Affirm State’s Emergence as Investment Destination
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Governor of Enugu State, Dr. Peter Ndubuisi Mbah, has attracted fresh foreign investor interest in the state, with prospective partners indicating readiness to commit capital across multiple sectors of the economy.
Speaking during an investment forum held on the sidelines of President Bola Ahmed Tinubu’s state visit to the United Kingdom, Mbah projected returns on investment ranging between 25 and 40 percent. He noted that global manufacturers and international partners were already establishing a presence in Enugu, citing the state’s strategic positioning and ongoing economic reforms.
The governor addressed participants at the UK-Nigeria Project Agglomeration Compact 2026, convened by Mutandis Africa in collaboration with the Nigeria Revenue Service at the House of Lords. The forum brought together Enugu State officials, senior federal government representatives, and private sector leaders to engage with the United Kingdom’s investor community, including private equity funds, sovereign wealth investors, development finance institutions, infrastructure platforms, pension funds, and family offices.
Mbah outlined a pipeline of investment-ready projects spanning aviation, tourism, agriculture, power, healthcare, education, and urban development.
“We have numerous projects that have been curated for international investors,” he said. “The international airport currently being expanded in Enugu is designed to serve a regional population of approximately 30 million people, transforming the state into a gateway for the entire Southeast economic corridor.”
He added that Enugu’s tourism and hospitality sector was undergoing repositioning, with new hotels, a conference centre, and revitalised resorts being developed to harness the state’s natural landscape, including waterfalls, caves, and scenic hills.
On agriculture, the governor highlighted ongoing efforts to modernise production through agritech and commercial farming initiatives aimed at strengthening food security and building export-oriented value chains.
Addressing infrastructure gaps, Mbah identified power as a critical investment opportunity, noting that more than 50 percent of the region still lacks reliable electricity, presenting prospects to serve over 15 million people.
He also emphasised expansion in healthcare and education to support human capital development, alongside the construction of a 10,000-hectare smart city envisioned as a modern commercial and residential hub.
Mbah further commended President Tinubu’s economic reforms, describing them as the most significant in decades.
“Under President Tinubu’s leadership, bold reforms have been implemented to restore macroeconomic stability and improve investor confidence,” he said. “The foreign exchange market has been unified, fiscal reforms are strengthening transparency, and the Nigeria Tax Act is creating a modern fiscal framework for long-term investment.”
He added that the president’s UK visit signals a shift in Nigeria’s economic structure, empowering subnational governments to act as drivers of growth.
“For Nigeria, it signals a new era where sub-national governments are not merely administrators but active stewards of economic development. For investors, it presents opportunities to engage with dynamic regions building credible, bankable projects,” he stated.
Also speaking, Chairman of the Nigerian Exchange Group, Dr. Umaru Kwairanga, and Group Managing Director/Chief Executive Officer of the United Bank for Africa, Oliver Alawuba, reinforced Enugu State’s positioning as a leading subnational economy.
Kwairanga disclosed that the NGX is on track to triple its performance in 2025, driven by rising investor confidence and policy measures such as banking sector recapitalisation.
In her remarks, Founder and Chief Executive Officer of Mutandis Africa, Chinelo Anohu, said participating investors expressed strong interest in Enugu’s aviation and real estate sectors, as well as smart solutions aligned with the state’s Smart Schools and Smart City initiatives.
“The governor’s delivery and command of data were compelling,” she said. “Post-event transaction processes will commence immediately.”
The forum marks a significant step in Enugu State’s push to position itself as a competitive destination for global investment, leveraging ongoing reforms and strategic sectoral development.