The celebration was characterised by massive display of rich Igbo culture and tradition.
The festival was celebrated with the theme 'Leading Awgbu to Affluence'. The venue was St. Mary's Primary School field, Awgbu and there were dignitaries and celebrities in attendance.
The resident Catholic priest opened the festival celebration with prayers and blessings.
The President General of Awgbu Progressive Union, Prof Chris Onwuka, expressed gratitude for the innumerable blessings the community has recently enjoyed in his welcome address.
He also said that the New Yam Festival, an annual ritual in Igboland is dedicated to yam which is regarded as the king of crops.
He also advised members of the community to reduce extravagant spending and use their resources instead to create projects that will help reduce poverty.
He said: "Let me remind you that Awgbu people have no Civic Centre, we equally lack an arena, a befitting sports stadium. Our contemporaries like Nanka and Ekwulobia have such facilities. Nanka Stadium, otherwise known as Nero Sport, was built by one of the sons of the community."
"Let me inform you that a committee has been set up to find a large piece of land to build a befitting stadium as well as a civic centre. To actualise this, we need the help of capable individuals, both in this and in areas of education."
The traditional ruler of Awgbu community, Igwe Michael C. Okechukwu, prayed for life and good health before shortly cutting the yam.
He also prayed that God continue to grant wisdom and strength to the Anambra State governor, Willie Obiano.