By Ebele Iyke Odili
A renowned Political Economist, Prof. Pat Utomi, has challenged Nnewi and Anambra State to develop strategic industrial policies capable of restoring the city’s position as a major manufacturing hub.
Utomi made the call on Sept. 26 at the 12th Investiture Ceremony of the Nnewi Chamber of Commerce, Industry, Mines and Agriculture (NCCIMA), where Pastor Mrs Patricia Uchenna Chukwu, PhD, emerged as the chamber’s first female president.
He said Nnewi’s renowned entrepreneurial spirit had not translated into its full industrial potential, attributing this to poor policies, inadequate policy responses and missed economic opportunities.
Recalling past initiatives involving international institutions, including the World Bank and International Finance Corporation, Utomi said opportunities to accelerate industrial development in Nnewi and Aba had been lost.
He also cited an African Export-Import Bank (Afreximbank) initiative to establish manufacturing clusters across Africa, saying Anambra was considered but the opportunity eventually moved to Ogun State.
Utomi urged stakeholders to rethink Nnewi’s industrial strategy by identifying the region’s factor endowments, skills and comparative advantages, rather than simply pursuing industries that appear profitable elsewhere.
“If you want to become a leading hub, we don’t jump into anything that somebody looks like is making money from. We must ask ourselves: what are our factor endowments?”
He challenged the business community to take greater initiative in driving industrial development, while pointing to the transformation of Addis Ababa, Ethiopia, as evidence of what deliberate planning, infrastructure and industrial organisation can achieve.
Utomi concluded with a direct challenge to Nnewi: “These are the things Nnewi should be ten times as much, but people are moving elsewhere. How are we going to turn that around? This is a challenge that is before us.”
Ebele Iyke-Odili is of the Ministry of Information and Value Reformation, Anambra State
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