Governor Alex Otti says his administration is prioritising infrastructure development and business-friendly policies to attract private sector investment and stimulate economic growth.
Mr Otti said this on Thursday at the maiden Abia Business Roundtable organised by the State Government in Umuahia.
He said that the Abia government recognised from the outset that it must set the pace for economic transformation before inviting private sector participation. He said that his administration’s decision to invest heavily in critical infrastructure, alongside the introduction of a six-month tax holiday for small businesses, was meant to remove barriers to productivity and encourage investors.
According to him, assessments carried out in the state identified poor road infrastructure as the major constraint to private sector participation, followed by security concerns, unreliable power supply and multiple taxation by government agencies.
The governor said that his administration responded by launching an extensive road infrastructure restoration programme, beginning with economically strategic areas of the state. He also said that although the scale of investment in road infrastructure came with significant opportunity costs, the government remained committed to rebuilding the business ecosystem and restoring investor confidence.
He said the initiative is necessary to encourage entrepreneurs and business owners who have previously shut down operations or relocated to reconsider investing in Abia.
He disclosed that the Abia government committed more than 80 per cent of its annual budgets in 2024, 2025 and 2026 to capital projects, as part of efforts to reposition the state economy.
He expressed appreciation to participants at the roundtable for their confidence in the government’s economic reforms and their willingness to engage with the state on investment opportunities.
He described the meeting as the first layer of a broader engagement framework, designed to improve information flow between the government and the business community.
Mr Otti said that the insights from panel discussions and breakout sessions during the event would be reviewed and, if appropriate, incorporated into government policies and implementation strategies.
He explained that the objective was to develop public-sector policies aligned with the expectations and realities of private-sector stakeholders.
Mr Otti also said that the engagement platform was created to address the limitations of policy design driven solely by government bureaucrats, without input from the business community.
He reiterated his administration’s commitment to expanding the private sector ecosystem through sustained investment in infrastructure.
He said that the strategy was expected to attract entrepreneurs and corporate investors, create employment opportunities for young people and revive key economic assets in the state.
Mr Otti further said that the government was also investing in human capital development to prepare the workforce for opportunities arising from increased private-sector activity.
He said that the government offered investors numerous advantages, including favourable tax policies, a robust security network, a large consumer market and a strong pool of skilled and unskilled labour.
(NAN)