Senator representing Anambra South Senatorial zone, Dr Ifeanyi Ubah has regretted that bad administration had dwarfed Anambra State which he said has the highest potential to be the strongest economy in Nigeria.
Ubah who is also the gubernatorial hopeful in the 2025 election in the State stressed the need for expansion in economic output with the aim of producing higher average incomes and expenditure that would bring about manageable inflation.
Speaking with journalists on Saturday, the lawmaker said, “this as one of the major areas I’ll pay attention to, if given the mandate to govern the State. It has been among my economic blueprints for 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 is positioned to holistically interrogate the underlying issues and find a permanent fix.
“States must develop according to their comparative advantage. 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.
“A comparative advantage gives one the ability to do more and stay stronger. Anambra is reputed for its prowess in commerce, technology, education, sports and many more.
“Any economic policy developed for Anambra State that does not derive from this trajectory is utopic and a misplacement of priorities.”
Senator Ubah named digital economy; fiscal responsibility to provide 100,000 jobs per annum; firm anchor on trade facilitation with incentives to Private Public Partnership to ensure ease of doing business.
Others are industrialization and economic diversification to reposition Anambra State as the fastest growing economy in Nigeria.
He said these areas would attract his attention to reposition Anambra State and make life more meaningful to the masses who he said had suffered huge economic setback.
“Essentially, why we have to follow these strategic action plans is to connect Anambra State where the world is at the moment and make the State ready to advance with the rest of the world, to become an advanced economy.
“This is doable with the level of potential harboured by the State, both at home and in diaspora, “he assured.
Ubah further explained that the State’s Gross Domestic Products (GDP) needed to be doubled with the intention of actualizing a diversified and competitive economy through the implementation of integrated and inclusive industrial development policies.
He said that Anambra needed industrial development strategy that could provide a robust roadmap for balanced-growth-oriented industrialization.
According to him, the industrialization policy thrust should be driven by three economic pillars of manufacturing sector development, agro-allied development as well as oil and gas investment.
