The Abia State Government is ready to work with StanbicIBTC to finance infrastructure projects. They are focusing on the planned Abia Medical City, Obuaku Seaport, and support for small and medium enterprises (SMEs).
Governor Alex Otti announced this on Thursday. He spoke while welcoming StanbicIBTC Group Chief Executive Chuma Nwokocha and other top officials in Nvosi, Isiala Ngwa South Local Government Area.
Mr Otti emphasized that financing for infrastructure is a key concern. He mentioned that planning for the Abia Medical City is progressing well.
He said land for the project has already been secured. The governor added that the government is ready to start working with the right development partners.
"We have many projects that we want to carry out in the area of infrastructure financing," Mr Otti said.
He called the Medical City a major project and asked StanbicIBTC to support its development.
"The Medical City is a top priority. The land has been secured, and we need to start work quickly," he stated.
The governor also shared that the state is carrying out a feasibility study for the Obuaku Seaport. This study aims to attract more investment.
"We are also doing a feasibility study for a seaport in Obuaku. It is another area for you to consider," Mr Otti added.
He praised StanbicIBTC for wanting to partner with the state to improve access to finance for businesses. He believes this will help improve the lives of the residents.
Earlier, Mr Nwokocha praised the government's accomplishments under Otti. He described Abia as one of Nigeria's top industrial and commercial hubs.
He noted that the state's economy thrives on successful SMEs, manufacturing, and busy markets. This makes Abia a great place for investment.
Mr Nwokocha assured that StanbicIBTC is committed to partnering with the Abia government. Their goal is to create opportunities that will boost economic growth across the state.
He said the bank's interest shows a shared goal of supporting sustainable development and improving the lives of citizens.
Mr Nwokocha said, "We see the opportunities and huge potential in Abia.
"There is a connection in values, goals, leadership, and the desire to improve the lives of everyday people.
"That is why we are here to discuss the best ways to work together with the state to speed up growth in all parts of Abia."
He believes that the partnership between StanbicIBTC and the Abia government will encourage sustainable development and open up more chances for businesses and residents.
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