The Abia State Government has expressed readiness to collaborate with StanbicIBTC on infrastructure financing, targeting the proposed Abia Medical City, Obuaku Seaport, and small and medium enterprise (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.
Infrastructure financing as a priority
Mr Otti said infrastructure financing remained a priority, noting that planning for the proposed Abia Medical City had reached an advanced stage. He stated that land had already been acquired, adding that the government was prepared to commence implementation with suitable development partners.
“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.
Feasibility study for Obuaku Seaport
The governor also revealed that 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.
StanbicIBTC praises Abia's economic potential
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.
Convergence of values and ambition
Mr Nwokocha stated, “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.” He expressed confidence that collaboration between StanbicIBTC and the Abia government would promote sustainable development and create greater opportunities for businesses and residents.
The partnership is expected to drive key infrastructure projects that will boost economic development in Abia State, with the Medical City and Obuaku Seaport as flagship initiatives. The state government continues to seek strategic alliances to finance and implement its development agenda.
