The Abia State Government has expressed readiness to partner with StanbicIBTC on infrastructure financing, targeting the proposed Abia Medical City, Obuaku Seaport and SME development.
Governor Alex Otti disclosed this on Thursday while receiving StanbicIBTC Group Chief Executive, Chuma Nwokocha, and senior executives in Nvosi, Isiala Ngwa South Local Government Area of the state.
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Mr Otti said infrastructure financing remained a priority, noting that planning for the proposed Abia Medical City had reached an advanced stage.
He said land had already been acquired, adding that the government was prepared to commence implementation with suitable development partners.
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“The area of infrastructure financing is where we have a lot of projects that we have proposed to execute,” Mr Otti said.
He described the proposed Medical City as a flagship project and urged StanbicIBTC to consider supporting its delivery.
“One of them is the Medical City. It sits as a top priority. The land has been acquired, and we need to hit the ground running,” he said.
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The governor also revealed the state was conducting a feasibility study for the proposed Obuaku Seaport to attract strategic investment.
“We are also conducting a feasibility study for a seaport in Obuaku. It is another area that you may want to look at,” Mr Otti added.
He commended StanbicIBTC for seeking collaboration with the state to improve access to finance for businesses and enhance residents’ welfare.
Earlier, Mr Nwokocha praised the Otti administration’s developmental achievements, describing Abia as one of Nigeria’s leading industrial and commercial centres.
He said the state’s economy was driven by thriving SMEs, manufacturing activities and vibrant markets, making it an attractive investment destination.
Mr Nwokocha said StanbicIBTC remained committed to partnering with the Abia government to unlock opportunities that would accelerate economic growth statewide.
He explained that the bank’s interest reflected a shared commitment to sustainable development and improving citizens’ livelihoods.
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Mr Nwokocha said, “We recognise the opportunities and enormous potential in Abia.
“There is a convergence of values, purpose, governance, and ambition to better the lives of ordinary citizens.
“That is why we are here to exchange ideas on how best to partner with the state to accelerate growth in every part of Abia.”
Mr Nwokocha expressed confidence that collaboration between StanbicIBTC and the Abia government would promote sustainable development and create greater opportunities for businesses and residents.
(NAN)
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