FEATURED PAPER
By Olisa Jerome Onye, PhDi Anthony Ezemerihe, PhDii, Charity Ekekezie, PhDiii
i Department of Building, Nnamdi Azikiwe University
Awka, Nigeria
ii, iii Enugu state University of Science and Technology
Enugu, Nigeria.
Abstract
This study assesses the transformative infrastructure finance model adopted by Enugu State, Nigeria (2023–present), which prioritizes unprecedented capital expenditure to stimulate economic growth and eradicate poverty. Drawing on state documents, academic research, and field reports, the analysis identifies a tripartite strategy. Security investment as foundational infrastructure, Rural-integrated development through agricultural corridors and smart schools; and Investor de-risking via land/tax reforms. While early outcomes include revived economic activity and subnational recognition, critical flaws persist. Fiscal vulnerability from over-reliance on volatile federal allocations; implementation gaps in water infrastructure and rural project equity; and governance deficits in transparency and community participation. The study argues that without addressing revenue diversification, maintenance financing, and participatory planning, the model’s sustainability remains at risk. Recommendations include blended finance instruments, maintenance trusts, and digital public dashboards to cement Enugu’s prototype as a replicable framework for infrastructural revitalization.
Keywords: Infrastructure, Finance, Development
- Introduction
Enugu State, historically challenged by insecurity and underdevelopment, has embarked on an unprecedented infrastructure transformation under Governor Peter Mbah’s administration (2023–present). Confronting a dire pre-2023 landscape—where non-state actors enforced sit-at-home orders, paralyzing economic activity and creating “ghost towns” —the government set audacious goals: growing the state’s economy from $4.4 billion to $30 billion and achieving a 0% poverty headcount index. This article examines the innovative finance model underpinning this vision, evaluating its structure, efficacy, challenges, and sustainability.
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How to cite this paper: Onye, O. J., Ezemerihe, A.N., Ekekezie, C. (2026). A Comprehensive Assessment of Enugu State’s Infrastructure Finance Model; PM World Journal, Vol. XV, Issue IV, April. Available online at https://pmworldjournal.com/wp-content/uploads/2026/04/pmwj163-Apr2026-Onye-Ezemerihe-Ekezie-Enugu-State-Infra-Finance.pdf
About the Authors
Olisaemeka Onye, PhD
Enugu, Nigeria
Olisaemeka Jerome Onye, PhD holds a bachelor’s degree in Building from Enugu State University of Science and Technology, Nigeria. A Master’s and PhD degrees in Construction Management from Nnamdi Azikiwe University Awka, Anambra State, Nigeria. Dr. Onye is a registered Builder with years of Experience in various aspects of Construction works. He can be contacted via jerriwho@gmail.com
Anthony Nnamdi Ezemerihe, PhD
Enugu, Nigeria
Anthony Nnamdi Ezemerihe, PhD holds a bachelor’s degree in Building from Enugu University of Science and Technology Enugu, Nigeria, Higher National Diploma in Building Technology and Quantity Surveying from Institute of Management and Technology (IMT) Enugu, Nigeria. Postgraduate Diploma (PGD) and Master of Business Administration (MBA) in Banking and Finance from Anambra State University of Technology (ASUTECH) Enugu. He also holds Master of Science (M.Sc.) degree in Building (Construction Management) from Nnamdi Azikiwe University (NAU) Awka, Nigeria. He has Master in Engineering (M.Eng.), Philosophy Degree (PhD) in Civil Engineering (Water Resources and Environmental Engineering) from Chukwuemeka Odumegwu Ojukwu University, Uli, Anambra State Nigeria. He has also obtained PhD in Construction Management at NAU, Awka.
Dr. Ezemerihe is a registered Engineer with Council for Regulation of Engineering in Nigeria (COREN) and a member of Nigerian Society of Engineers (MNSE), He is a registered Builder and Corporate member Nigerian Institute of Building (MNIOB), Nigerian Institute of Quantity Surveyors, Nigerian Institute of Management (MNIM), Nigerian Environmental Society (MNES) and passed with overall result A -in Public Service Examination (PSE) from the Administrative Staff college of Nigeria (ASCON). He also obtained Doctor of Philosophy (Critical and Creative Thinking) PhD (CACT) (Honouris Causa) from Montclair State University, Upper Montclair New Jersey, United States of America (USA), He can be contacted at ecatonia2008@yahoo.com
Charity Ekekezie, PhD
Enugu, Nigeria
Charity Ekekezie, PhD holds a Doctorate in Construction management from Nnamdi Azikiwe University Awka, Anambra State, Nigeria. Dr. Ekekezie is a registered builder and currently the heads the Department of Building, Enugu State University of Science and Technology Enugu Nigeria.
