Wednesday, June 5, 2041
The infrastructural development partnership entered into between Nigeria and Singapore in 2019 has, without doubt, yielded its desired result. In fact, experts say the enormity of the benefits that resulted - and continue to result - from the partnership was not seen as at the conceptualization stage.
One town that has taken the most advantage of this partnership is Nnewi. Nnewi, an industrial town located in Anambra, the south-eastern part of Nigeria, is unarguably one of the greatest assets of Nigeria. A common custom of the people of Nnewi is that indigenes make it a point of duty to establish their businesses in the town - often even before branching out to more economically vibrant locations.
From Innocent Chukwuma, the owner of the first vehicle manufacturing company in Nigeria, Innoson, to Ajulu Uzodike of Cutix, to Ifeanyi Ubah, a big player in the oil and gas and sport industries, to Cosmas Madugba of Coscharis Motors, to Chika Okafor of Chicason Group, to Cletus Ibeto of Ibeto Cement, Nnewi has produced renowned entrepreneurs that continue to add enormous values to the nation’s economy. All these started and prospered their businesses even in the toughest of conditions at the time.
When opportunity meets preparedness, the result is a magic-like success. This was the case when the partnership was entered into, and with sincerity of purpose from Nigerian leaders. Anambra State, particularly Nnewi, was the most fertile land for the execution. Foreign investors preferred to invest the larger chunk of their funds in Nnewi as it promised the best Returns on Investment.
The partnership has resulted in total revamp of the town’s road, power, medical, building and IT infrastructures, and it has seen the potential of Nnewi bloom beyond Nigeria’s imagination.
A practical example of Nnewi’s success is Chukwudi Electronics, the company in the world with the most protected computer device, HaloX – currently the brand used by Interpol. It has within a year won 7% (20% in Africa) of the market shares of global brands like Apple, HP, Microsoft and Lenovo - a share worth $2.1B.
Small and medium scale businesses are equally impacting the economic space. According to Ifeanyi Okonkwo, an agricultural machine manufacturer who was hitherto referred to as “metal fabricator,” “Words cannot express the joy I feel toady. Our brand is known all over Africa. We sell 45% of our products locally, 35% to other African countries, and 18% to South America and Asia. We rarely meet demands. And this cuts across all manufacturers. Even the least of manufacturer here is a millionaire.”
Nnewi has without doubt been the golden egg that turned the fortune of the country around when she needed it the most. From being the host of factories that support other businesses, to being a major foreign income earner, Nnewi has made itself the true pride of Africa – an example of what the continent truly needs to prosper.
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