Business
Anambra Denies Selling Airport Land
The Anambra State Government has denied allegations that it is selling land it acquired to build an airport in Oba in Idemili South Local Government Area.
The Commissioner for Lands, Chief Okey Moka , made the denial in an interview with newsmen in Awka yesterday .
Moka said activities in some portion of the land, including the erection of residential buildings, were within the terms the land was acquired.
Some members of the community had petitioned Gov. Willie Obiano asking him to intervene on the alleged sale of the land by land grabbers in connivance with agents of government.
The people alleged that 30 hectares of the land was allocated to some persons who were selling plots for the erection of private buildings.
The community people asked that the land should be returned to them since the airport project for which it was taken was no longer feasible.
The commissioner said the land remained the property of Anambra State Government and that there was nothing illegal about the construction of residential buildings in the area.
He said that 30 hectares was allocated to traders of Emodi Shoe Sellers Association by the immediate past administration for establishing a residential estate and not for industrial purposes as the petitioners claimed.
“If somebody tells you that government is selling the airport land, it is not true; government does not sell land but allocates land.
“The issue of the Shoe Sellers Association which they are leaning upon to cause this trouble was before the exit of the last administration.
Government allocated 30 hectares of land to the association to build their residential houses,
“To put the record straight, the entire airport land is 530 hectares and out of it, the last administration allocated 30 hectares.
‘’Gov. Willie Obiano administration decided as an APGA government to continue the process and did not cancel the agreement
“If government acquires land for overriding public interest, the land belongs to the government.
“Under the purpose-clause of the land, it was initially acquired for airport. When the project fails, government has the right to change the purpose.
“After all, when the agreement with the Shoe Sellers for 30 hectares was reached the community was not invited because they have no locus, so what the association decides to do with the land does not concern the people.
“Again, there is no record here that says that the association is selling the land or that they will be paying compensation to the community,” he said.
The commissioner said compensation had been worked out by government but had not been effected because of disagreement over who were the true representatives of the community.
Edun made the call while speaking at the 2025 Fellowship Investiture of the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos, where he reaffirmed the federal government’s commitment to sustaining ongoing reforms and expanding access to finance as key drivers of economic growth beyond four per cent.
“We all know that monetary policy under Cardoso has stabilised the financial system in a most commendable way. Of course, it is a team effort, and those eye-watering interest rates have to be paid by the fiscal side. But the fight against inflation is one we all have to participate in,” he said.
The minister stressed the need for banks to broaden credit access and finance innovation-driven enterprises that can create jobs for young Nigerians.
“The finance and banking industry has more work to do because we must finance their ideas, deepen the capital and credit markets down to SMEs. They should not have to go to Silicon Valley,” he said.
The minister who described the private sector as the engine of growth, said the government’s reform agenda aims to create an enabling environment where businesses can thrive, access funding, and contribute meaningfully to job creation.
The facility, known as the Nigeria Actions for Investment and Jobs Acceleration (P512892), is a Development Policy Financing (DPF) operation scheduled for World Bank Board consideration on December 16, 2025.
According to the Bank’s concept note , the financing would comprise $500m in International Development Association (IDA) credit and $500m in International Bank for Reconstruction and Development (IBRD) loan.
If approved, it would be the second-largest single loan Nigeria has received from the World Bank under President Bola Tinubu’s administration, following the $1.5 billion facility granted in June 2024 under the Reforms for Economic Stabilisation to Enable Transformation (RESET) initiative.
The World Bank said the new programme aims to support Nigeria’s shift from short-term macroeconomic stabilisation to sustainable, private sector–led growth.
“The proposed Development Policy Financing (DPF) supports Nigeria’s pivot from stabilization to inclusive growth and job creation. Structured as a two-tranche standalone operation of US$1.0 billion (US$500 million IDA credit and US$500 million IBRD loan), it seeks to catalyse private sector–led investment by expanding access to credit, deepening capital markets and digital services, easing inflationary pressures, and promoting export diversification,” the document read.
The document further stated that Nigeria’s private sector credit-to-GDP ratio stood at only 21.3 per cent in 2024, significantly below that of emerging-market peers, while capital markets remain shallow, with sovereign securities dominating the bond market.
To address these weaknesses, the DPF will support the implementation of the Investment and Securities Act 2025, operationalisation of credit-enhancement facilities, and introduction of a comprehensive Central Bank of Nigeria rulebook to strengthen risk-based regulation and consumer protection.
The operation also includes measures to deepen digital inclusion through the passage of the National Digital Economy and E-Governance Bill 2025, which will establish a legal framework for electronic transactions, authentication services, and digital records.
Beyond the financial and digital sectors, the programme targets reforms to lower production and living costs by tackling Nigeria’s restrictive trade regime. High tariffs and import bans have long driven up consumer prices and constrained competitiveness, particularly for manufacturers and farmers.
Under the proposed reforms, Nigeria would adopt AfCFTA tariff concessions, rationalise import restrictions, and simplify agricultural seed certification to increase the supply of high-quality varieties for maize, rice, and soybeans. The World Bank projects that these measures will help reduce food inflation, attract private investment, and enhance export potential.
The operation is part of a broader World Bank FY26 package that includes three complementary projects—Fostering Inclusive Finance for MSMEs (FINCLUDE), Building Resilient Digital Infrastructure for Growth (BRIDGE), and Nigeria Sustainable Agricultural Value-Chains for Growth (AGROW)—all focused on expanding access to finance, strengthening institutions, and mobilising private capital.
