Abia Govt Seeks Support As AfDB’s Investment Hits $74.5m

Abia State has approached the African Development Bank for more support as the bank’s investment in the state rose to $74.5m since the Bank Group commenced operations in Nigeria in 1971.

A statement said 53 per cent of the AfDB’s investment in the state went into power & energy; 25 per cent in education; 15 per cent in health; and seven per cent in transport.

The state governor, Okezie Ikpeazu, stated that the state was seeking the support of the AfDB to help make Enyimba Economic City, an ambitious economic hub a reality among other supports.

With a population of over 2.8 million, he said the state government’s goal was to transform the region into a manufacturing and industrial powerhouse and create 700,000 jobs over five years.

The statement indicated that Ikpeazu said this when he met with the President, AfDB, Akinwumi Adesina, at the bank’s headquarters in Abidjan, Cote d’Ivoire, to discuss investment issues.

He stated, “Our vision is to leverage the capacity of our people to become the Small and Medium Enterprises capital of Nigeria. Our people are industrious and innovative. For instance, our people are known as top players in the leather industry.

“We have a new shoe factory that is producing over 50,000 shoes. We particularly need the bank’s help to address the state’s infrastructure deficit.”

The statement said the project, presented at the bank’s 2019 Africa Investment Forum, had received significant investor interest.

It added that other investment interests included a waste-to-energy project.

Adesina stated that Abia State had, “Huge potential in agro processing and human resources. The Bank’s role is to support governments like yours to transform their economies and create jobs.

“Over the years, Aba has evolved as a centre of entrepreneurship and SMEs. The city has the potential to be a competitive industrial hub for Nigeria and for Africa. For this reason, the bank will continue to support your vision.”