Governor Peter Mbah has unveiled N20 billion fundraising campaign for the Enugu State Security Trust Fund to fund critical security infrastructure and make the state a safer and more prosperous place for residents.
Unveiling the fundraising campaign on Thursday, Mbah represented by Secretary to the State Government, Prof Chidiebere Onyia, explained that the initiative aims to improve security and foster development and prosperity for residents.
The state government has set ambitious revenue targets, expecting to generate N252.789 billion from independent revenue, representing 48.47% of total inflows. The approved 2024 budget has a total expenditure outlay of N521.561 billion.
However, the governor noted that “without a secure environment his drive to grow the economy of Enugu State from $4 billion to $30 billion annually will not be achievable.”
He listed the critical security projects to fund include; “personnel welfare, empowerment of the vigilante group, purchasing of additional weaponry, CCTV system architecture and street light system, purchase of security vehicles, and support to security agencies.”
While stating that the entire country is witnessing multifaceted security issues, Mbah urged individuals, corporate entities, businesses, and the various arms of the government to support the fund.
Earlier, the chairman, Board of Trustees of the state security trust fund, Dr Ike Chioke said the security trust fund anticipates contributions of N10 billion from corporate entities, N3 billion from the state government, N3 billion from the local government, and N1.5 billion from individuals and other sources.
The objective of the trust fund Chioke said is to create a central security coordination point which will help to strengthen the State’s Security Infrastructure in combating the multifaceted issues of insecurity across the region.
He said, “This initiative is born out of the urgent need to address the security challenges that have plagued our beloved state, and it marks a significant step toward creating a safer, more prosperous, and more progressive future for all our residents. Enugu State, under the leadership of His Excellency Dr. Peter Mbah, has set a bold vision to become one of Nigeria’s top three states by Gross Domestic Product (GDP).
“With an ambitious target of growing the economy from ₦4.4 billion to ₦30 billion, this vision relies heavily on attracting private sector investments – fostering an environment where businesses can thrive and wealth can be created in peace.
“However, this lofty aspiration is currently hindered by significant security challenges that have posed valid concerns for residents, investors, and tourists alike.As we all know, security challenges are a barrier to progress. And over the years, Enugu, like many states in the Southeast region of Nigeria, has faced rising insecurity.
“The challenges include violent activities from separatist groups, kidnapping, armed robbery, herders/farmers conflicts, and the proliferation of small arms. In addition to that, political thuggery, cultism, cybercrime, and other forms of criminal activities have also compounded the insecurity, leading to economic disruptions and a general sense of fear among residents.
“These issues not only affect the daily lives of our people but also deter potential investors; this is not good for economic growth and social development.
“The Enugu State Government, in its commitment to safeguarding lives and properties while instilling confidence among the people, has inaugurated the ESSTF. This fund represents a strategic, coordinated approach to enhancing security infrastructure and ensuring that Enugu State becomes a sought-after haven for all.”
He added, “Our target is to raise ₦20 billion over the next four years, with ₦5 billion earmarked for 2024 alone. These funds will be raised in annual tranches to ensure continuous investment in security initiatives.”
He expressed optimism that through this collaborative effort, “we can build a safer Enugu State that will attract investment, foster community development, and improve the quality of life for all residents.”
