Anambra Boosts Economic Sector Budget by 26.7% to Drive Industrial Growth and Innovation

Anambra Boosts Economic Sector Budget by 26.7% to Drive Industrial Growth and Innovation

Anambra State is making a decisive leap toward industrialisation and innovation with a 26.7% year-on-year increase in the Economic Sector allocation of Governor Chukwuma Charles Soludo’s ₦757.9 billion “Changing Gears 3.0” budget. The move signals the state’s strategic pivot from a trade-focused economy to a diversified industrial and knowledge-driven hub.

According to the Governor’s Chief Press Secretary, Christian Aburime, the expanded budget will finance five flagship initiatives that are central to Anambra’s Vision 2070 plan.

Key projects include the Anambra Mixed-Use Industrial City, a 5,000+ hectare hub for heavy and light manufacturing, logistics, and agro-processing, complete with access roads, power sub-stations, and fibre connectivity. Phase 1 infrastructure work is set to commence in 2026.

The Three New Cities Project — Awka 2.0, Greater Niger, and the Aerotropolis / New Industrial-Commercial City — will transition from master-planning to actual construction and serviced-plot allocation, providing spaces for administrative, knowledge, agro-industrial, and aviation-linked commercial activities.

The Solution Innovation District (SID) will also reach completion in 2026, with 100 hectares around the iconic SID building allocated for private-sector development. The budget will support anchor-tenant incentives, venture funds, and the Anambra Angel Investment Network to foster technology-driven entrepreneurship.

For ease of doing business and investment promotion, an estimated N10–15 billion sub-head will fund international investment roadshows, sector-specific incentives such as five to ten-year tax holidays for pioneer industries, and the operationalisation of the upgraded Anambra State Investment Promotion and Protection Agency (ANSIPPA).

The budget also prioritises regenerative agriculture and export value chains, continuing and scaling the cultivation of oil palm, coconut, ukwa, and bamboo, while expanding into cashew, citrus, and aquaculture processing zones. Investments will support off-taker agreements, cold-chain logistics, and completion of the Oba Coordinated Wholesale Drug & Medical Equipment Market, poised to become Africa’s largest pharmaceutical hub.

The combined impact of these projects is expected to be transformative: the Industrial City and three new cities alone are projected to generate over 200,000 direct and indirect jobs between 2026 and 2030, while the SID and agro-processing plants will create additional employment opportunities.

The expansion will also broaden the state’s revenue base, with PAYE from new factories, withholding taxes, property taxes from new cities, and consumption taxes from a growing middle class significantly boosting internally generated revenue (IGR) beyond the historical ₦2–3 billion monthly plateau.

Currently, Anambra’s economy is predominantly trade-driven, accounting for 70–80% of activity. The 2026 investments are projected to increase manufacturing and innovation’s contribution to 25–30% of GDP by 2030, enhancing resilience against national economic shocks and creating incentives for the diaspora to invest or return home.

Analysts say the 26.7% increase is a landmark moment, positioning Anambra not just as a transit state, but as a destination for industrial, technological, and commercial growth. Governor Soludo’s administration is thus set to be remembered not only for infrastructure development but as the leadership that industrialised the state.

Christian Aburime
Media Office of the Governor, Anambra State