In a major boost to the Enugu State economy, both foreign and local investors have signaled their commitment to the state's transport sector, with an estimated injection of ₦26 billion. This significant development promises to transform the transportation landscape and generate numerous employment opportunities for residents.
The revelation came from the Commissioner of Transport, Obi Ozor, during a press briefing on Friday, following the Enugu State Executive Council meeting held at the scenic Nike Lake Resort in Enugu. The announcement was made on the sidelines of the Enugu State Executive Leadership Retreat, organized for senior government officials.
Commissioner Ozor unveiled that Enugu State had successfully attracted investments totaling ₦26 billion into the transport sector. This infusion of capital is earmarked for the concession and revival of the Enugu State Transport Company (ENTRACO) Ltd, a move expected to pave the way for the creation of over 10,000 jobs for the local populace.
He further detailed that the state's vision encompasses a diverse array of economic opportunities, notably through the introduction of intra-state and inter-state Compressed Natural Gas (CNG)-powered buses. Moreover, these investments are set to lay the groundwork for the establishment of assembly plants for buses and other vehicles, thereby enhancing the efficiency and affordability of the transportation system.
Commissioner Ozor emphasized, "This monumental transaction by Governor Peter Mbah will not only bring efficient transportation but will also move Enugu closer to its industrialization goal." This strategic initiative is poised to not only improve transportation within the state but also stimulate economic growth and development.
Discussing the positive impact on the lives of the Enugu State residents, Ozor underscored that these investments are expected to generate thousands of job opportunities and promote skill development through the establishment of assembly plants. Additionally, he highlighted the environmental benefits, stating that the initiative is projected to "save over 3,700 tonnes of carbon dioxide per annum," contributing to a cleaner and more sustainable future.
The commitment of investors to Enugu's transport sector is a significant milestone in the state's ongoing efforts to enhance its economic infrastructure, promote job creation, and advance environmental sustainability.
This announcement is poised to herald a new era of economic prosperity and innovation in Enugu State, as it takes bold strides towards realizing its vision for a more vibrant and industrious society.
