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THE GLOBAL BUSINESS HUB IN NIGERIA


Enyimba Economic City (EEC) is a 9464 Hectares of Work, Live, Learn and Play City designed to have economics of agglomeration, environmentally conscious, efficient and sustainable city in Nigeria. EEC is an investment destination created to leverage on the opportunities Nigeria offers to bring about job creation and regional development through industrialization. It is a Special Economic Zone (SEZ) under the Made In Nigeria for Export (MINE) programme of Federal Government of Nigeria. It has a Free Trade Zone Status.

VISION

To be a vibrant integrated city and a connected global business hub in Nigeria that will promote the integration of Nigerian businesses manufacturing and Services) into regional and global value chains.

MISSION

To create a global economic hub in Nigeria linked with high grade access roads, rail, airports and seaports that will transform Nigeria into a manufacturing and industrial powerhouse, with ancillary drivers of commerce, logistics, entertainment, education, health, lifestyle living and aviation.

8 PILLARS OF THE PROJECT

PHASES OF THE PROJECT

Phase 1- 1,499 Ha

Phase 1 is comprised of the first industrial township/park, dry port/logistics park, wholesale market, trailer park and other ancillary uses.

Phase 2 – 279 Ha

Phase 2 is comprised of health and wellness, knowledge and Innovation sub-cities.
KPMG is currently consulting on the phase 2 of the project and is expected to produce the Project Information Memorandum (PIM), including Business Case by Q4 2022.

Phase 3 – 291 Ha

Phase 3 is comprised of the entertainment and media sub-city.

Phase 4 – 2,743 Ha

Phase 4 is comprised of the residential township and central business district (CBD).

Phase 5 – 4,417 Ha

Phase 5 is comprised of the second, third and fourth industrial townships.

Phase 6 – 461 Ha

Phase 6 is comprised of aviation comprising of international airport and aircraft maintenance hangers.

PROJECT PROGRESS

  • The project is fully conceptualized and First Phase is fully designed and shovel ready.
  • Declaration of EEC as Special Economic Zone by NEPZA
  • Certificate of Occupancy for the Land from Abia State Government
  • Free Trade Zone License Approval from The President, Federal Republic of Nigeria
  • Full Origin and Destination Inland Port Approval from The President, Federal Republic of Nigeria.
  • Approval to jointly develop rail connection of EECD Inland Port to Onne Sea Port with Nigerian Railway Corporation, Nigeria Ports Authority and Shippers Council of Nigeria.
  • The City Regulation Approval by NEPZA and Federal Ministry of Justice and Gazette by the Federal Republic of Nigeria.
  • Definitive Agreement signed with Abia State Government and Federal Government for 6% and 20% equity in the project respectively, at N50b capitalization.
  • Agreement signed with AFREXIM as Mandated Lead Arranger for First Phase Financing.
  • Agreement signed with African Development Bank as co – debt Financier.
  • Agreement signed with International Finance Corporation (IFC) on Advisory for global manufacturing transfers to the city.
  • Agreement signed with Geometric Power for initial 94MW power supply from Osisioma, Aba IPP and discussion ongoing on 504MW Oma as dedicated power to the city.
  • Consortium for external fence infrastructure that include Insta – Toll RSA, Escher Silverman Global UK, CCECC Nigeria, Afreximbank won the bid for concession of 200km 4 lane Port-Harcourt – Enugu and 161km Onitsha-Owerri-Aba highways.
  • Marketing/DFI’s companies have been appointed for China, India, and Europe to attract manufacturing transfers to the city.

FINANCING

Term Sheet has been signed for debt finance for Phase 1 of the project with Afreximbank and financial closure process is at due diligence stage and projected to be completed in Q3 2022.

Construction Program on Phase 1