Nnewi Economy

Post on 15 September 2015

For this past fifty years, Nnewi has embanked on various types of community development programs which include building primary schools, post primary schools, hospitals, rural electrification and water supply projects. These infrastructures earned her urban status in the early 1970’s. In terms of education, Nnewi has 48 elementary schools, 6 post primary schools,15 hospitals, medical centers and teaching hospital-- Nnamdi AzIkiwe University.

Apart from contributing her own share in terms of Nigerian Politics, Nnewi has created a vibrant economy since after the Civil War. In spite of the set back, during and after the Civil War, Nnewi has made a quantum leap with respect to economic development. , Ajulu Uzodike (Ozi Uzo Nnewi) was the President

Agbo Edo, a forest land which belonged to Edo Nnewi deity, was cleared to make way for a new market called Nkwo Nnewi market. The development of this market propelled the fast development of the local economy.

Nkwo Nnewi Auto spare parts industry started during the Civil War. By the early 1980’s, manufacturing of autos, spare parts and other goods were added to the economy. These industries have survived over the years due to the quality of their products. Their market shares have increased tremendously in recent years. Today, Nnewi accounts for over 23% of products in the Nigerian market with respect to motor vehicles and motorcycle spare parts.

As a fast developing city and a major industrial and commercial hub in Africa, Nnewi experiences voluminous financial activities, therefore hosts major banks, and other financial institutions. Industries are dotted around the city and adjoining towns. Palm oil, cosmetics, motor, and motorcycle spare parts, books, and stationeries, textiles, electric cables, and so on are produced in commercial quantity in the area. Its main trading centers include Nkwo Nnewi market (the largest spare parts market in west Africa) and Nwafor market, Eke Amaobi market, Eke Ochie, Eke Ichi Market, Orie otube Market, etc.