The New Enugu City is a project by the Enugu State government to build a world-class City; what opportunities are coming with it? Why invest? If you are wondering about the opportunities and why you should invest in the city or the project, allow Ikenga Store to walk you through this article. While we wait to see the emergence of this project, we seek to assess what opportunities the new city would bring should the government continue with the project.

The new city to be sited in an area of about 10,000 hectares is aimed at fashioning a modern city that would complement the current Enugu city in different aspects. Initially, the current Enugu city was planned to be an administrative capital from the time of the old Eastern region. This position as an administrative city has cost Enugu state lots of potential as the state struggles to meet expectations in the Areas of GDP, Industrialization and commercial activities.

From the days of Enugu coal exploration, when Enugu had a short-lived glorious economic and industrial destiny, the town of Emene was planned to be the industrial layout of the Enugu province of the Eastern Region. Enugu coal would be trucked to the then-new city of Port Harcourt for further shipping. This short-lived golden era can still be revived, and only systematic approaches towards revamping the entire economic life of the state can such a big leap be actualized.

Since Enugu City was planned to be an administrative city, it became important to build an entirely new area, leading to the emergence of the Enugu City project by the Enugu State government. Although we are yet to understand this project’s scope, Ikenga Store, as one committed to promoting the affairs of the Igbo Nation and marketing our products, would look at opportunities that would come with the New Enugu city and why you should invest.

Understanding the New Enugu City Design

The New City aims to be partitioned into three different segments: Happy Island, Vitality Bay and the Innovation Park. The new city is proposed to have a central sewage system, dedicated power station and high-speed internet, indicating a modern smart city with many opportunities. This city can potentially cement Enugu’s status as the capital of an emerging high-tech space in AlaIgbo; we could be looking at our Silicon Valley.

Industrialization and Commercialization

As earlier noted, Enugu has not lived up to expectations in industrialization and commerce. Nigerian and African societies generally are lagging whenever industrialization is the question. With the steps being taken so far, Enugu seems to be in the part of high-powered industrialization with the emergence of the New Enugu City project. The city will experience rapid industrialization and expansion with a dedicated power station. This is because the New City and the main Enugu City would complement each other in many ways.

GDP Improvement

In recent times, the GDP score of Enugu state has been rather disappointing. Enugu was one of the least-performing states in Nigeria in terms of Gross Domestic Product (GDP). Although Enugu seems to be doing great in terms of Education, human development index and other indices, the lack of industrialization, commerce, exploration of minerals, abandonment of agriculture, and several other lack of attention towards the state’s economic growth presented a state in the verge of loosing out on its potential. Hopefully, building the New Enugu settlement will bring other economic catalysts to speed up Enugu’s industrial and commercial development and improve its GDP.

Job Opportunities

Job opportunities would be another takehome from the building of the New City; from construction to industrialization and commercialization, new structures create new avenues needing extra hands, and these extra hands have to be sourced through the employment of labor. This will create multi-level employment opportunities in the state.

The job opportunities are going to be multifaceted; for a start, as the construction starts in the vicinity, there would be demand for different classes of construction workers both by the government and private individuals; there would be a need for Engineers, Architects, Health workers, Artisans and other skilled and semi-skilled labors like Bricklayers and Associated labor. The employment opportunity that the new city would bring through the execution phase would be unprecedented in the history of Enugu state, save for the period of the coal boom, yet when the project is done, the real employment potential of the new settlement will manifest.

Real Estate Boom and Properties Appreciation

The New Enugu City is being constructed in an entirely fresh piece of vast land where land is relatively cheap at the moment; neighborhoods near the New City would begin to see appreciation in the values of properties, especially lands around the area, the new Enugu settlement is surely going to improve the financial standing of current land owners in the vicinity. The real estate boom is another scenario that would emerge with the project.

The emergence of new settlements always comes with the need for shelter; for a city aimed to be of international standard, highrises or other forms of modern building could be the norm. This could shift the housing demand in the area; this new design and intentional aesthetics may appeal to the upper class, middle class and the super wealthy in Enugu and nearby states. This could lead to classic taste in the shelter choices. It could end up being a rich people’s neighborhood in the ranks of Lekki in Lagos or other wealthy neighborhoods worldwide. Any neighborhood that appeals to the rich would certainly be a kind of real estate wonder; aside from that, such a neighborhood could sometimes offer a semblance of orderliness.

Recreation and Relaxation

With the intentional relaxation and aesthetic appeal proposed in the project, it will surely be a relaxation and recreational wonder. The main Enugu City, as serene and resilient as it is, would ease off as several people would decongest to the new settlement; the new settlement is also likely going to offer the kind of features not yet witnessed in Enugu, crafted with aquatic feels, the New Enugu City would attract tourist and other forms of leisure seekers from within the main Enugu City and other arrears like Nsukka and even other states. The New Enugu City is one of a kind if it follows the proposed plan; as such, it is likely to be a wonder to behold once the project begins to take shape.

Traffic Decongestion and General Decongestion of Enugu Main City

Another likely take-home from the New Enugu City project would be the decongestion of the main Enugu City, as attention, traffic and economic activities would be diverted to the new settlement. This would ease off the main Enugu City, one of the best-planned cities in Nigeria and one of the best in ease of movement, even becoming more relieved. The New City would ease stress in the Main Enugu City, creating two twin cities that flourish into a geographical synergetic piece.

Return on Investment

Investors, irrespective of the fancy wordings painting the New Enugu City as nearly an Eldorado, would be asking what is the return on investment like. To answer that question, one must understand the main sector needing investor attention regarding this project. 1. Is real estate, 2. Industry 3. Hospitality 4. Health sector 5. Real Estate 6. Construction 7. Services. Everything being equal, investment in these sectors had always been a hit because of the availability of a huge market that South East Nigeria serves; this market stretches directly to the rest of Nigeria, especially as most parts of Northern Nigeria source different kinds of goods and services from the south East. The new city proposed in Enugu will guarantee investment return, everything being equal.

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