Sterling Bank Plc has signed a partnership agreement with the Anambra State Government, Coordinator Wholesale Centre (CWC), and Feroville to build a new international drug market in Oba in the Idemili South Local Government Area of the state.
Under the arrangement, Sterling Bank will serve as the sole financier for the construction of the project, and upon completion, traders at the River Niger Bridge Head Market will relocate to the new market.
The new facility, when completed, will host more than 15,000 business concerns, including 12,500 pharmaceutical premises, 88 executive offices, warehouse space of about 60,000 square meters, banking hall, event centers, cafeteria, general hospital, parking space for more than 3,000 cars and a standard cold chain facility.
Also, the proposed facility will contain regulatory offices for all drug and health agencies, including NAFDAC, a fire service unit, a centralized checkpoint, and a police station.
Group Head, Government Partnership Fulfilment with Sterling Bank, Mr. Adewale Adebowale, said the bank is financing the project because it resonates with its strategic direction of concentrating its resources on five sectors of the economy under its HEARTs strategy. The five sectors are Health, Education, Agriculture, Renewable Energy, and Transportation.
Also speaking, Anambra State Commissioner for Health Dr. Ben Adam Obidike explained, “The importance of the CWC cannot be over-emphasized in the light of the magnitude of health challenges presented by the open drug market.”
