By David Onwuchekwa
The governorship candidate of the African Democratic Congress (ADC), Chief Chuma John Nwosu, has reiterated his administration’s readiness to expand Anambra State’s economy and Gross Domestic Product (GDP), if elected Governor come November 8.
Speaking with reporters in Awka, Chief Nwosu outlined a series of impactful economic strategies designed to transform the State’s revenue base and promote sustainable growth.
He revealed plans to establish the Anambra State Investment Fund (ANSIF), which would be primarily funded from the State’s oil derivation allocation in the Federation Account. According to him, the fund would be modeled after global sovereign wealth funds such as those in Norway, Saudi Arabia, and Texas, and would serve as a catalyst for economic diversification and long-term stability.
“The objectives of ANSIF are clear, to diversify revenue sources, reduce overreliance on federal allocations, and protect the State from fluctuations in the global oil market.
“It will also enable the State to save for the future through long-term investments, infrastructure development, and a reserve against natural or economic shocks, ”he said.
He emphasized that the initiative would attract foreign investors by demonstrating fiscal discipline and prudent financial management.
“Revenue from ANSIF, both interest and principal, will be continually reinvested and compounded. It will be managed by reputable global asset management and finance institutions,” he explained.
Chief Nwosu also highlighted agriculture as a key pillar of his economic agenda, pledging to promote agro-allied industries, food processing, and beverage production. He said his government would create agricultural hubs in major food-producing areas such as Anambra East, Anambra West, Ayamelum, Oyi, Ogbaru, Awka North, Orumba North, and Orumba South, by constructing access roads to ease the movement of goods and services.
He further promised to collaborate with agricultural research institutions to enhance seed and crop development, as well as ensure mass production of quality inputs for farmers.
To boost financing for the sector, Nwosu pledged to partner with financial institutions and act as a guarantor for farmers seeking low-interest and concessionary loans from the Bank of Agriculture and similar bodies.
He added that farmers would be encouraged to form cooperative societies to strengthen their collective bargaining power and improve access to markets and funding.
“Agriculture and investment are the twin engines of a prosperous Anambra,” Chief Nwosu concluded. “With prudent management, creativity, and cooperation, we can turn our resources into enduring wealth for all, ”he concluded.
