The Enugu State Government has signed a landmark Novation Memorandum of Understanding (MoU) with Lion Business Park Limited, formalising a renewed investment partnership to develop a world-class industrial and commercial hub within the Enugu Industrial Park Free Trade Zone.
Governor Peter Mbah, speaking at the signing ceremony held in Enugu on Tuesday, reaffirmed his administration’s commitment to creating an enabling environment for businesses to thrive. He urged investors, especially those in the diaspora, to take advantage of the state’s evolving economic landscape and invest in Enugu for high returns on investment (RoI).
Chairman of Lion Business Park Ltd, Dr. Okechukwu Mbonu, described the renewed collaboration as a strategic step aligned with the governor’s economic vision to grow Enugu’s Gross Domestic Product (GDP) from $4.4 billion to $30 billion.
“This partnership marks a significant milestone,” Mbonu said. “We are poised to establish an industrial and commercial hub that will drive trade, boost economic growth, and create thousands of jobs, especially for our youth.”
He lauded Governor Mbah for his developmental strides, describing the MoU as a fulfillment of earlier promises. Mbonu further noted that the project would leverage Free Trade Zone incentives to attract foreign direct investment (FDI), promote human capital development, and stimulate innovation and technology across sectors.
Calling on local and international investors, Mbonu said: “This project offers vast opportunities that transcend Enugu and the South East, positively impacting Nigeria’s wider economy.”
Governor Mbah reiterated his administration’s commitment to expanding the state’s economic base through strategic investments and infrastructure provision.
“This business park is a critical piece of our economic puzzle,” he stated. “We are increasing our stake in this venture by providing all necessary infrastructure to ensure its success. We already have vital licenses in place, including Free Trade Zone and Inland Port licenses, which streamline the setup process for investors.”
The governor noted that the park’s location was deliberately chosen following careful economic analysis. “It is three hours from Onne Sea Port, less than two hours to Asaba, and just 25 minutes to Akanu Ibiam International Airport. The strategic location is unmatched,” he said.
He assured investors that the state would continue to provide essential support including reliable electricity, paved roads, and a business-friendly regulatory environment. Mbah also appreciated the host communities for their cooperation and encouraged them to sustain their support for the state’s industrialisation drive.
