August 19, (THEWILL) – Anambra State was first created in February 1976 from then East Central State. Its present status excludes Enugu which was carved out in August 1991 with the valley of the lower Anambra River, which is a tributary of the Niger River.
The northern part of the state consists of open grassland with occasional woodlands and clusters of oil palm trees. The southern part includes a tropical rainforest
Agriculture is of great significant to the state’s economy with major produce such as yams, taro, oil palm produce, rice, corn, cassava, and citrus fruits as the principal crops.
Other agro-based activities include fish farming and animal husbandry. The state is also popular with industries, including textile manufacturing, foundry, tools and brewery.
Onitsha is the business and economic capital and one of Nigeria’s fastest-growing commercial cities, with one of the largest markets in West Africa, while Nnewi is the home of industries for manufacturing of motor vehicle parts. Onitsha has one of the nation’s largest inland river ports.
The state has a land area of 1,870 sq km and an estimated population of 5.35 million people.
Its location as Eastern Gateway positions it for strategic business and economic development among the South-East and South-South regions.
Natural resources
Anambra is rich in natural resource natural gas, crude oil, bauxite, ceramic. It has an almost 100 percent arable soil. Lead, zinc, and lignite are also mined in the southern part of the state.
Oil and gas
Being a state rich in oil and gas, Orient Petroleum Resource Ltd, (OPRL) was licensed in June 2002, by the Federal Government to construct a private refinery with a capacity of 55,000 barrels per day. The foundation-laying ceremony of the was performed in 2012 as a private refinery, making Anambra to became an oil-producing state.
Industry
Anambra is one of the most industrialised states in Nigeria, with many SMEs engaged in organised value chain activities.
Onitsha Inland River Port is a major economic advantage to the state.
Tourism
Tourist attractions include Ogba waterfalls located in Owerre-Ezukala town. It is a waterfall in front of the Ogba Ukwu cave. It is listed tentatively as a UNESCO World Heritage Site.
Agulu Lake is located in Anaocha Local Government Area. This lake has a width of about 7km and is endowed with different species of crocodiles and fish.
Fishing is not allowed on the lake and the crocodiles are not to be hunted.
The Odinani Museum is located in Nri and was founded by the Archaeology Department of the University of Ibadan. It has received wide recognition for its documentation of the ancient Nri Kingdom whose monarchy dates back to about 900 AD.
Located at Ogbunike, Anambra state are the Ogbunike caves. These caves were discovered 100 of years ago by a hunter that was known as Ukwa. These caves are situated in a tropical rain forest very close to the Ogba hills.
Anambra State Government in a bid to earn more income for the state and create more job opportunity has decided to fast-track the Tourism industry .
It commissioned its international cargo airport recently.
FACT-FILE
Numbers of businesses: 1,220
Number of registered vehicles: 3,797
Pupils in public primary schools: 584,170 (2009)
Public secondary schools: 504 (2009)
Enrolment in private secondary schools: 13,102 (2009)
University: Three – 1 federal, 2 states.
Polytechnic: Two – 1 federal, 1 state.
College of Education: Two – 1 federal, 1 state
One state technical school
Total Revenue: N78.92 billion (2020
FAAC Allocation: N50.91 billion (2020) 64.51% of total revenue
IGR: N28 billion (2020) 35.49% of total revenue
Total Tax: N15.84 billion (2020)
External debt: $108 million (2020)
Domestic debt – N59.97 billion (2020)
Anambra: Driving Industrialisation, Modern Agriculture on Fast Lane
Anambra is Nigeria’s fourth largest economy (after Lagos, Rivers and Abuja) with a GDP of $6.74 billion. It is on the fast lane to industrialistion. According to Debt Management Office (DMO), Anambra has one of the lowest domestic debts and highest internally generated revenue profiles. Anambra has frontally tackled its revenue challenge – a major stumbling block to the economic development of many states.
From all indications, the state realises its potential as an industrialised economy and the government is firing from all cylinders towards that. This has become a priority to the current government with focus on human capital development, infrastructure, security and conducive environment for domestic and foreign investors. The export oriented-policy of the government has also created an environment to promote private sector-driven economy.
The state had launched a unique project for export of agricultural products to Europe. In 2016, it commenced a working relationship with ABX World – a Nigerian-based courier/cargo company, partnering with Arik Air and Skyway Aviation Handling Company (SAHCOL), to airfreight agro-allied exports to Europe.
The NBS Unemployment and Underemployment report for the third quarter of 2020 (Q3 2020) showed that Anambra had the lowest unemployment rate (13.1 percent) among the 36 states of the federation and the FCT. It also had the lowest underemployment rate, (17 percent) in Q2, 2020”.
Anambra ranked among 10 top revenue generating and least indebted states in 2020.
Under its unique tax awareness campaign, the state has created an avenue for the effective capturing of taxpayers in both formal and informal sectors via Anambra Social Service Identity Number (ANSSID). This is a unique identification number for every transaction with the state government. Findings showed that about 400,000 tax payers were captured as of December 2020. Community Revenue Officers (CROs) have been deployed to effectively relate with taxpayers across the 181 communities.
It is driving industrialisation and modern agriculture on the fast lane.
Challenging Factors: Fast-growing insecurity in the South-East, large number of touts in several uniforms, traffic congestion, poor electricity supply, lack of potable water, high cost of business operations.
ENDOWNMENT AND INVESTMENT OPPORTUNITIES
About the Author
Sam Diala is a Bloomberg Certified Financial Journalist with over a decade of experience in reporting Business and Economy. He is Business Editor at THEWILL Newspaper, and believes that work, not wishes, creates wealth.
