Tuesday, March 02, 2021

DevEast, partners converge experts for Eastern Nigeria economic corridor - ITREALMS

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A non-profit economic advocacy foundation, the DevEast and partners have embarked on a longterm project to champion the economic development of Eastern Nigeria, reports 
ITREALMS.
The take off project, ITREALMS gathered has been slated for Friday, March 12th this year with convergence of the development partners and experts across the South-South/South-East to discuss the Eastern Nigeria economic corridor, reputed as the foremost economic block in Nigeria.


A press statement available to ITREALMS by Charlene Chioma, indicated that the workshop is themed 2021 Eastern Nigeria Economic Outlook: Envisioning a New Economic Corridor.

ITREALMS also gathered that the event would be held in partnership with several economic actors including chambers of commerce, professional groups in the former Eastern Region and will feature professionals across several fields but especially key focus areas including oil and gas, critical infrastructure such as transport and logistics, telecommunication, shipping, manufacturing, human services.

Equally, the founder of DevEast, Mr. Collins Onuegbu, disclosed to ITREALMS that there are 11 states in the South East and South South regions of Nigeria, stressing that as an economic unit, this block has a Gross Domestic Product (GDP) of about $111billion, thereby capable of creating an economic corridor that is one of the biggest in Africa.

Onuegbu was also quoted as saying that this corridor equally hosts the oil and gas industry that has been the mainstay of the Nigerian economy for the past 50 years.

“Its population of about 75million makes it the 5th largest populated country in Africa after Nigeria, Ethiopia, Egypt, and DRC," he said.

In addition, Onuegbu said, "Its small landmass means that there are 75million people in an urbanized small landmass that are connected. There are at least 10 midsize cities in the block and tens of tertiary cities, creating a connected block that is reachable by road in about 3hrs end to end. Its connection to the Atlantic Ocean makes it easy for the development of an integrated transportation system that includes roads, ports, rivers, and airports, both local and international.”

By 2050, DevEast founder expressed optimism this corridor will be the most developed and integrated block in Nigeria and Africa.

“Its development is important for Nigeria. We want to present this opportunity to the regional investors, Nigerians, and international investors to be part of the future of the economic corridor,” he asserted.

Chuks Egbune/Editor

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