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Gov  Mbah announces plans to establish 660MW  Coal -fired Power Plant, N100bn capital  Fund ….Tourism upgrade to transform Enugu

Maureen Ikpeama45414 mins

Governor of Enugu state ,Dr Peter Mbah has announced an  economic blueprint to position Enugu as Nigeria’s premier business destination, disclosing plans to establish  a 660-megawatt coal-fired power plant with groundbreaking in July,2026.

The Governor also announced plans to set up a N100 billion venture capital fund to support startups, alongside an incubation hub and an Artificial Intelligence institute.

Mbah unveiled his administration ‘s plans on Wednesday in his speech during an engagement with the members of the Organized Private Sector, who paid him a solidarity visit in Government House, Enugu.

He also disclosed plans to upgrade some tourism sites’ and reforms aimed at easing the cost of doing business in the state, and to attract investments, boost enterprise growth , grow the revenue of the state from S4.4bn to S30bn ,, and reposition the state as a leading economic hub in Nigeria.

Gov Mbah delivering his speech

Mbah said his administration is deliberately removing barriers that discourage investment while building critical infrastructure to support businesses.

Speaking on the establishment of a 660-megawatt coal-fired power plant, scheduled for groundbreaking in July 2026 and expected to be completed within 18 months, the Governor said;

” We’re also now interested in building the electricity here, producing electricity here. And I’m pleased to inform  you that in July we’re going to be breaking ground. We’re going to be installing a 660 megawatts  of a coal-fired power plant and the outlay in terms of time is about 24 months.

” In 24 months after July we’re going to commission that coal-fired power plant. What it means is not just that you have access to electricity but you’re also going to have affordable electricity because it’s going to be by far the cheapest electricity in the country.

“The interesting thing about our coal is that we have the best quality of coal in the world. We don’t have anywhere in the world where the quality of coal compares to ours.

“Our calorific value is over 7,200. It doesn’t exist anywhere, which is good for electricity production. Our sulphur content is less than 0.5 percent. It doesn’t exist anywhere, not in this country. The only country that comes close is Japan, but it’s still better than what you have in Japan.

“So instead of just exporting our coal raw, we’re going to benefit from it. We’re going to add value to it by generating electricity with our coal. And so what that simply means is that post-2027 you will not have your power go off in Enugu. Whether for businesses and for residential or indeed any commercial activities you’re  undertaking here in Enugu.

“So maybe this should also be a hint. For businesses, you like taking positions because when the opportunity is obvious to everybody, then it’s no longer an opportunity.,” the Governor said .

Govt officials and leadership of the Organised sector

The governor highlighted key reforms already implemented to improve the business climate, including the harmonisation of taxes and the creation of a one-stop-shop payment system.

“You just make one payment and that does it for you for the entire year. You don’t have to be harassed by different agencies,” he stated.

He noted that the reforms were backed by law to ensure sustainability and transparency for investors and traders.

To strengthen small businesses, Mbah disclosed that the state has secured single-digit interest loans in partnership with the Bank of Industry, targeting nano and small enterprises.

“We want whatever support we provide to be well spread among small businesses

In addition, the government is setting up a N100 billion venture capital fund to support startups, alongside an incubation hub and an Artificial Intelligence institute.

The members of the organised private sector

He spoke also on the ongoing construction of a technology incubation centre, and partnership with the Nigerian Communications Commission to build an Artificial Intelligence Institute as part of his administration’s strategy to further improve the Enugu business environment and prepare for the future.

“In four years from now, AI will contribute $20trn to the global economy. We just do not want Enugu State to miss out on such huge funds. We want to be at the epicentre, not just as consumers, but as producers..

“We should build startups that can grow into billion-dollar companies… We don’t want to just consume AI, we want to produce it,” he said..

He added that his administration is also embarking on an ambitious Enugu Smart City project, the first major update to the city’s master plan since the 1950s.

“The new city will feature underground electricity systems, modern road networks, central sewage, guaranteed water supply, and future monorail transport, alongside commercial assets such as twin towers, shopping malls, and entertainment arenas,”Governor Mbah said.

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Responding, to a request earlier made for quarterly engagement, Governor Mbah welcomed the idea and pledged to prioritise investors already operating in the state. “It will be my desire to give you the first right of refusal for any opportunity we have in the state.

“This is a good time to take position. When the opportunity becomes obvious to everyone, it is no longer an opportunity,” the governor advised investors.

Mbah further revealed plans to boost tourism with immersive sites across Nsude, Nguo, Awhum, Okpatu and other locations, including a 300-metre zipline, cable cars from Okpatu to monastry, canopy walkways, and religious tourism centres.

“The state is also developing a digital industrial park to host over 200 Business Process Outsourcing (BPO) firms, aimed at providing global ICT and administrative services from Enugu.,” Mbah disclosed.

Earlier, the Convener and Chairman of NECA South-East Zone, Rev Ugochukwu Chime, commended the governor’s reforms and infrastructure drive.

Rev Ugochukwu Chime standing

“Your administration has strengthened confidence in Enugu as an emerging destination for investment and enterprise development,” he said.

The Organized Private Sector proposed quarterly engagements with the government to deepen collaboration and address emerging economic challenges.

Stakeholders which included the President of ECCIMA, Nnanyelugo Onyemelukwe, the Chief Executive Officer of JUHEL Nigeria Limited, Dr Ifeanyi Okoye and others commended Governor Mbah’s good governance and his creation of a business- friendly environment in the state.

They noted that if the planned power reforms and infrastructure projects materialise, Enugu could be on track to emerge as one of Nigeria’s most competitive investment destinations in the coming years.

In an interview, immediate past President of the Enugu Chamber of Commerce, Industry, Mines and Agriculture (ECCIMA) and CEO of BridgeWaters Group, Sir Odega Jideonwo, said the governor’s presentation reflected clarity of purpose and strong alignment with private sector expectations.

Sir Odeiga Jideonwo

“The programmes outlined show a clear picture of a man who knows exactly what he wants to achieve. He reeled out investment plans and opportunities for active players in the private sector,” Jideonwo said.

He particularly highlighted the governor’s commitment to granting right of first refusal to existing private sector players.

“Being someone from the organised private sector, he understands that government does not have business doing business. For the investments the state is planning, he is giving first right of refusal to those already active in the private sector. That is a major takeaway for me,” he said..

Jideonwo expressed readiness to take advantage of emerging opportunities, especially in tourism.

“The governor has plans for tourism, and it is a sector we are already involved in and have succeeded. His offer is a good one and something we will consider in good time,” he noted.

Despite the optimism, Jideonwo stressed that electricity remains a major challenge for businesses.

“Power is a major problem. It is even getting worse with global developments… the cost of diesel has gone up significantly, and that is negatively affecting businesses,” he said.

He explained that rising production costs are often transferred to consumers, thereby fueling inflation.

“If government can provide stable power supply, it will reduce the cost of production,” he said..

He welcomed the planned coal-fired power plant, saying , “I am happy with what the governor said about setting up a coal-fired power plant. I hope it comes to life and provides steady electricity,” he stated.

The business community

With over 101 investment opportunities already structured with feasibility and financing models, the Enugu State Government says it is ready to partner with the private sector to drive long-term economic growth.

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