Obiano Turns Attention to Trade and Commerce, Lays Foundation for $350m Inter-continental Trade Centre in Ogbunike

In a strategic move to implement his Four Pillars of Development, Governor Willie Obiano of Anambra State has laid the foundational cornerstone for the proposed multi-million dollar West Africa Inter-Continental Trade Centre to be built in Ogbunike, Oyi Local Government of the state.

The proposed Trade Center is a major component of the Trade and Commerce category of Governor Obiano’s Four Pillars of Development. The other pillars are Agriculture, Industrialization and Oil and Gas. Already, Obiano has made remarkable efforts in exploiting the pillar of Agriculture; attracting over $500m investments to the sector.

On completion, the Intercontinental Trade Centre is expected to be the largest and most comprehensive commercial and entertainment complex in Africa, accommodating a large number of wholesale plazas and retail clusters, state-of-the-art residential blocks, eateries, convention centers, a boutique hotel and a motel that will all be operated by leading brands across the globe.

Located about 7 kilometers away from the Onitsha Main Market, West Africa’s largest market, the Intercontinental Trade Center is conceived as a one-stop commercial landmark in the entire South Eastern economic block and a symbol of the entrepreneurial and commercial acumen of Ndigbo.

The Trade Center will also serve as a sanctuary of hope for all Nigerian entrepreneurs who are looking for a friendly business climate to begin their lives anew after being dislocated by the encyclical violence in the Northern parts of Nigeria and the relentless despoliation caused by Boko Haram.

Laying the foundation stone of the Trade Center, Chief Willie Obiano described the day as a historical day in the life of Anambra State.  Said he; “Today marks a remarkable day in the history of our great state.  It is a sure sign that our people are marching in the right direction. Recall that my administration is focused on Four Pillars. Today I am happy that we have attracted the much needed investment in the Trade and Commerce sector. This symbolic groundbreaking ceremony marks the beginning of construction works on the most modern market in Africa right here in our beloved state.”

Giving a rare insight into the equity structure of the project, Governor Obiano revealed that the state government controls 7 percent while the host community holds 2.5 percent of the equity.

According to him, “the $350m that is projected for this market is broken down as follows – $15.74bn will be expended on infrastructure, $4.9bn will be spent on providing electricity to the center while $31.8bn will go into the construction of residential areas in a new layout that takes into consideration the factory layout style of the project. My administration will do everything to make this project a resounding success,” the governor assured while appealing to all stake holders to rise to the challenge and deliver the proposed Trade Center in 42 months as projected. 

Earlier in his remarks, Obiora Anyaralu, President, West Africa International Trade Center explained that it was regrettable that for ages, generations of industrialists and entrepreneurs from Anambra State had invested their resources and genius in developing virtually everywhere else but their home state.

“I do not see any reason why we should not have something that is of international standard; something that we can appeal to our brothers and sisters in Nigeria and the Diaspora to come home and invest in. We have always done our best to invest and develop other places but we have never taken the need to invest in our home state seriously. But all that has come to an end under the leadership of Governor Obiano,” the business magnet declared.

Mr Anyaralu further bemoaned the fact that Anambra businessmen and women usually build mansions in their country homes and abandon them for cockroaches, rats and reptiles to occupy because there had not been any serious planning to expand the commercial and industrial capacities of the state on a scale that would accommodate the entrepreneurial energies of the people.

“The next phase is that we will change the psyche of Ndi Anambra on the way we should live. We shall plough the sum of $350m into building mega housing estates in Anambra State to provide world class residential areas for our people who want to set up businesses and relocate their families to Anambra. The estates will be built on locations with close proximity to the Trade Center so that residents can access the Center in less than 20 minutes.  When this Center is completed, it will be the only such Center in all of Africa. The only other place you can see a similar project is either Europe or America,” Mr. Anyaralu assured.

In his own remarks, the managing Director of SGN Housing and Infrastructures Limited, the funding partners, Mr. Dominic Menouh thanked Governor Obiano for having the inspiration to envision a world class market that compares only to the very best in Europe and America.

Said he: “This is a market that not only integrates the Nigerian idea of a place of commerce but a market that represents a point of gathering, a point of entertainment and a location where people can meet and socialize. Indeed it is the first time that a market of this type will be built in Nigeria and Africa.”

According to him, “this complex will not only represent a new approach to the selling of goods and services but will also be built in line with the new and green technology. The complex will not only house a large number of wholesale plazas and retail clusters but also a state-of-the-art residents, eateries, convention centers, a boutique hotel and a motel operated by leading brands. Let me congratulate Willie Obiano for his drive for modernization while still preserving the traditions of the people of this land.”