A former Deputy Governor of the Central Bank of Nigeria, CBN, and presidential candidate of the Young Progressive Party, YPP, Prof. Kingsley Moghalu, has called on the federal government to make Nnewi, a commercial nerve center in Anambra state a full manufacturing hub in Nigeria so as to serve as a panacea for the chase for foreign investment.
He made the call at the weekend during the Nnewi 2020 Investment Summit where he contended that Nnewi would hardly become a successful manufacturing hub based on the efforts of the private sector alone hence the need for the federal government to provide the necessary amenities to make businesses thrive in the area.
Prof. Muoghalu, who was the lead speaker at the event lamented that the federal and state governments in Nigeria are always on the move, looking for foreign investments, when it could support a huge manufacturing hub like Nnewi to reach its limit and in turn help in growing the nation’s economy.
He said, “Nnewi is the only industrial town in the whole world that is growing without the support of the government. A huge manufacturing hub that was started from the scratch by indigenes of the town and has continued to grow without the support of the government.
Mr Kelechi Nwosu, the CEO of TBWA, a leading marketing company and co-sponsors of the event in his welcome address said that the summit is an inaugural event put together to rub minds on ways to scale up growth in Nnewi.
Earlier, the member representing Nnewi North, Nnewi South and Ekwusigo Constituency at the national assembly, Chris Emeka Azubogu, said the dream of the greater Nnewi industrial hub could be achieved when the government provides needed infrastructure to drive manufacturing and also reshape policies that would help drive industries.
