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By Madu Obi
Awka- The Senator representing Anambra South senatorial zone, Chief Ifeanyi Ubah has said that Anambra State has the potential to be Nigeria's economic hub, arguing that the only thing required is the right leadership to galvanize it.
Addressing reporters at Nnewi, Ubah, who is a governorship aspirant for the 2025 Anambra election on the platform of All Progressives Congress, APC, said it is unfortunate that bad leadership had dwarfed the state that boats of the highest potential to be the strongest economy in Nigeria.
According to him, Anambra requires a practical approach to develop its economy, arguing that someone who does not have identifiable investment has no business aspiring to lead the state because would not know what to do.
He said: "I have the capacity to expand the economy of Anambra State by motivating the people to earn higher incomes and live well .
"Expanding the economic base of the state will be one of the major areas I would pay attention to, if given the mandate to govern the state.
“The worrisome economic state of affairs in Anambra State shows that our great fortress and walls of wealth have been broken, and our government will be positioned to holistically interrogate the underlying issues and find a permanent fix."
“Comparative advantage is simply an economy’s ability to focus on the production of goods and services at a lower opportunity cost than one’s competitors."
“Anambra is reputed for its prowess in commerce, technology, education, sports and many more, which are areas the state has comparative advantage."
“Any economic policy developed for Anambra State that does not derive from this trajectory is a misplacement of priorities and out of place."
"That is why emphasis will be on digital economy; fiscal responsibility that will provide 100,000 jobs per annum and firm anchor on trade facilitation with incentives to Private Public Partnership to ensure ease of doing business."
“We have to follow these strategic action plans to connect Anambra State where the world is at the moment and get the state ready to advance with the rest of the world to become an advanced economy."
Anambra needs an industrial development strategy that can provide a robust roadmap for balanced-growth-oriented industrialization.
The state’s Gross Domestic Product (GDP) needs to be doubled with the intention of actualizing a diversified and competitive economy through the implementation of integrated and inclusive industrial development policies.
“It is doable considering the level of potentials harboured by the state, both at home and in diaspora."
According to him, the industrialization policy thrust of the state should be driven by three economic pillars of manufacturing sector development, agro-allied development, as well as oil and gas investment.
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