Warri Industrial Business Park: When government sees infrastructure as catalyst to economic growth
As part of efforts to de-emphasise its dependence on oil and diversify to other sectors of the economy, the Delta State government is regenerating the ancient city of Warri, providing infrastructure which, it is hoped, will spur economic growth and development.
The Warri Industrial Business Park (WIBP) is one such infrastructure. Conceived in 2008 by the present administration, the Park, which sits on a large landmass of approximately 329 hectares in Edjeba, Warri South, evidently aligns with the state government’s vision to strategically position Warri as the prime destination for private sector investment in the Niger Delta region.
“The need to leverage on infrastructural development through aggressive pursuit of income diversification necessitated the park,” Helen Emore, the WIBP project director, said at a media presentation of the Park in Lagos recently. “It’s a giant stride by the state government to re-direct its economy from its sole dependence on oil to other exciting opportunities such as real estate, agriculture, logistics, amongst others.”
Its direct access to four seaports, proximity to the Osubi Airport, access to a wide range of regional, national and international markets through multi-modal transport services, Free Trade Zone, and proximity to the oil and gas industry further highlight its position as a world-class industrial business park that can spike an industrial revolution in the ancient city of Warri.
Other off-site developments aimed at increasing business opportunities at the park are the dredging of the channel linking Warri Port to WIBP, incorporation of a light rail between the port and park into the WIBP project, completion of rail line to Aladja by Federal Ministry of Transport and completion of Ughelli-Asaba Expressway.
“WIBP is a mega project estimated to gulp about $1.5 billion; however, we aim to achieve this milestone through Public Private Partnership (PPP) as we believe that this offers an exciting opportunity to every local and foreign savvy investor,” Emore continued.
Another benefit of the project, which has since kicked off in earnest, is the expected growth to expand the state’s industrial sector, create new knowledge, new enterprises, new opportunities, and also kindle the service and commercial sectors of the economy, raising the state’s competitiveness in such industries in the global market.
Currently, work is going on at the first phase of the project and this would, among other facilities, deliver a 7-storey iconic administrative building expected to churn out about 11,000 sq metres of office space that would be available for leasing.
With a dedicated area for commercial use, residential area, recreational centres, logistics and many more, the park would, on delivery, come with world-class road network, complementary infrastructure, dedicated power stations, telecommunication network, and all facilities expected in a world-class business park.
By: ODINAKA MBONU