FRCN HQ
Anambra Headline Local News Nigeria

Anambra govt terminates 20 MoU signed by past administration

The Anambra State Government has exited twenty out of the twenty two Memoranda of Understandings signed by the immediate past administration.

The Managing Director, Anambra State Investment Promotion and Protection Agency, ANSIPPA, Mark Okoye, made this known during the on-going bilateral discussion of the 2023 budget estimate at the State House of Assembly.

He said the previous administration of Governor Willie Obiano signed forty two MOUs which was supervised by ANSIPPA but most of them could not deliver on the agreement.

According to him, hence the reason for the Governor Soludo-led administration to terminate twenty of them and take back the land that was offered to them by the government.

Mr Mark said presently, five out of the remaining twenty two investors, were working well, eleven have some activities on ground while the remaining five are on borderline.

Managing Director, Anambra State Investment Promotion and Protection Agency, Mark Okoye at the State House of Assembly.

The Former Commissioner for Economic Planning and Budget said Governor Soludo has given approval for the forensic audit of the investments to provide an independent assessment with strategic recommendations on what to do with the investors.

Mr Okoye said the present administration has concluded plans to create Anambra Development Corporation which will coordinate and pilot the critical projects that are captured in the manifesto of the present government which include major water and transportation, Housing, Gas to Power plant among others.

The ANSIPPA Managing Director also hinted that the Anambra State Printing Press is to be consessioned for optimal performance.

According to him, some state owned enterprises are running below capacity and need a lot of capital injection which the state may not be able to do at the moment as it is channeling a lot of resources on road construction, healthcare and education.

He said that some of the enterprises can be run as viable businesses which is why the government is exploring privatization and consession of some of them by working with the private sector to bring capital that could be injected into the corporations to get them up and running again.

Reporting by Uche Ndeke; Editing by Abdullahi Lamino