The Abia State Government has expressed its readiness to partner with Stanbic IBTC on infrastructure financing to accelerate the development of key projects, including the proposed Abia Medical City, Obuaku Seaport and small and medium-scale enterprises (SMEs).
Governor Alex Otti disclosed this while receiving the Group Chief Executive of Stanbic IBTC, Chuma Nwokocha, and other senior executives at his country home in Nvosi, Isiala Ngwa South Local Government Area.
Governor Otti said infrastructure development remains a top priority of his administration, revealing that plans for the proposed Abia Medical City have reached an advanced stage, with land already acquired for the project.
He described the Medical City as a flagship initiative expected to transform healthcare delivery in the state and invited Stanbic IBTC to partner with the government in bringing the project to reality.
The governor also disclosed that the state government is conducting a feasibility study for the proposed Obuaku Seaport, noting that the project is expected to attract strategic investments, enhance trade and boost economic development.
He commended Stanbic IBTC for its interest in collaborating with the state to improve access to finance for businesses and support initiatives that will enhance the welfare of Abia residents.
Speaking earlier, Stanbic IBTC Group Chief Executive, Chuma Nwokocha, lauded the developmental strides of the Otti administration, describing Abia as one of Nigeria’s foremost industrial and commercial hubs with a vibrant SME sector and strong manufacturing base.
He reaffirmed the bank’s commitment to partnering with the Abia State Government to unlock investment opportunities, drive sustainable economic growth and improve the livelihoods of the people.
