Jide Akintunde, Managing Editor/CEO, Financial Nigeria International Limited

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  • Fiscal Policy

Governor Peter Mbah’s Tomorrow Enugu 09 Sep 2026

Governor Peter Mbah assumed office in May 2023 with the bold declaration that “Tomorrow Is Here.” Three years later, he remains one of Nigeria’s most visibly active governors, projecting urgency, ambition, and a relentless drive to transform Enugu State. His administration’s messaging suggests a leader who is determined to prove that tomorrow can be engineered through sheer will and aggressive public investment. But ambition devoid of strategic depth can become a costly illusion. Governor Mbah’s enthusiastic strategy faces this rude awakening. 

The administration’s fiscal posture is a major cause for concern. Enugu’s Internally Generated Revenue (IGR) has risen by an astonishing 1,462 per cent, from ₦26.8 billion in 2022 to ₦406.7 billion in 2025, with a projected ₦870 billion for 2026. This surge, driven by assertive tax enforcement and digitised land administration, indicates the government’s intent to expand its fiscal capacity. However, revenue growth has been accompanied by a dramatic rise in public debt, which skyrocketed by 128.4 per cent between early 2024 and Q1 2025.

According to data from the Debt Management Office (DMO), this aggressive borrowing has pushed Enugu to the top of the domestic debt rankings in the South-East, with its debt exceeding that of some of its closest neighbours combined. While the state has maintained relative control over its foreign-currency obligations, the surge in domestic liabilities mirrors a troubling federal pattern of rising nominal revenue and rapidly expanding borrowing, as more citizens face declining living standards.

Enugu’s recent expansionary budgeting is unprecedented in scale. The state’s annual appropriation has ballooned from ₦166 billion in 2023 to ₦1.62 trillion in 2026 – a tenfold increase in just three years. The administration has committed vast sums to roads, water infrastructure, digitised Smart Green Schools, and even an Enugu-owned airline. These projects are presented as evidence that “tomorrow” is already unfolding in the state. However, while the governor's hard work is commendable, the concern is whether his administration is pursuing fundamentally wise policies.

The Enugu International Hospital is the clearest expression of Governor Mbah’s development philosophy. During a pre-launch media tour last month, he showcased the facility’s ultra-modern diagnostic and treatment equipment, all imported, state-of-the-art, and expensive. The hospital is designed to compete in the global health tourism market and attract Nigerian medical specialists from the diaspora. It is a striking symbol of aspiration. But it also reveals a deeper strategic contradiction.

This hospital is not built primarily for the average Enugu resident. It is built for external OEM markets, external patients, and external expertise. A project funded by Enugu taxpayers will generate high-value jobs for professionals who may not currently live in the state. It is a development model that depends on imported technology, equipment, and labour. In other words, it exports opportunity while importing cost.

Governor Mbah’s urgency remains admirable. However, urgency is not a development strategy. Many of the administration’s investments may not deliver broad-based benefits to residents, even as aggressive revenue mobilisation and rising debt impose immediate and future burdens on the people. The expected returns on these projects are highly uncertain, particularly in a macroeconomic environment marked by historic inflation, weak purchasing power, and a severely constrained business environment across Nigeria.

When immediate survival needs entirely consume local household income, local patronage for high-end public utilities declines. Under such conditions, capital-intensive public investments designed for quick returns are unlikely to perform as projected, leaving the state to service immense obligations from a strained treasury.

A second concern is strategic dispersion. Enugu is investing across too many areas at once –aviation, education, water, roads, health tourism, digital infrastructure, and more – without building the depth needed to make any single sector truly competitive. A more effective strategy would identify a few priority areas where public investment can catalyse competitive advantage, enabling Enugu to compete meaningfully within the broader Nigerian economic landscape. Building such capacity takes time, but it is the only path to durable transformation.

Although Enugu State is not a sovereign entity, it can still learn from countries that pursued long-term, capacity-driven development models. South Korea invested in technological self-reliance in the 1960s, building industrial capacity before luxury consumption. Today, Korean firms lead globally in electronics, automotive engineering, and telecommunications.

China absorbed foreign knowledge rather than foreign products, using it to build world-class manufacturing and technology ecosystems. Through its 1970 Patents Act, India explicitly designed its legal and educational framework to allow local engineers and scientists to legally reverse engineer complex molecular compounds, while also investing in human capital. Today, India has become the “pharmacy of the world” and a global software powerhouse.

These countries built their future by strategically investing in industrial capacity, not in imported luxury goods or turnkey infrastructure. By contrast, the Nigerian stratagem often relies on imported technology and debt-financed projects to create a developmental mirage. It postpones genuine industrial transformation rather than accelerating it. Governments that depend on this model deepen the structural vulnerability of their local economies.

Governor Mbah’s slogan conveys productive urgency. It can mobilise residents, energise the bureaucracy, and signal that Enugu is ready for business. But the path to “tomorrow” must be grounded in strategic focus, capacity building, and local value creation. Enugu’s future will be shaped not by how much it can import, but by how much it can produce.

Jide Akintunde, Managing Editor of Financial Nigeria magazine, is the author of the new book, Youth Breed: How Generations of Nigerian Youth Impact Their Country.