The Abia government has expressed readiness to partner with Stanbic IBTC on infrastructure financing, targeting the proposed Abia Medical City, Obuaku Seaport and SME development.
Governor Alex Otti disclosed this on Thursday while receiving Stanbic IBTC Group’s chief executive, Chuma Nwokocha, and senior executives in Nvosi, Isiala Ngwa South.
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.
“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 Stanbic IBTC 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.
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 stated.
He commended Stanbic IBTC for seeking collaboration with the state to improve access to finance for businesses and enhance residents’ welfare.
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 Stanbic IBTC 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.