Precious Nwonu, Enugu
Abia State Governor, Alex Otti, has disclosed that the state has secured approvals for about N1.24tn in private capital investments to drive infrastructure development and expand economic activities beyond the capacity of public funding.
Otti made the disclosure in Lagos on Wednesday at the Nigerian-British Chamber of Commerce Meet the Governor Series, where he spoke on “Repositioning Abia for Enterprise, Industrialisation and Sustainable Economic Growth.”
The governor said the investment pipeline comprises about N914bn in joint ventures and N327bn in design-build-operate-transfer concessions, with market development, power and energy among the areas targeted.
He added that the flag-off of some of the projects would commence soon.
According to Otti, his administration is focused on creating stable economic conditions that can attract and retain long-term private investment.
He said investors were more concerned about predictable policies and viable projects than expensive investment promotion campaigns.
The governor disclosed that the state’s N1.01tn 2026 budget allocates 80 per cent to capital expenditure, while internally generated revenue is being used to fund recurrent obligations. He said external and private capital would be directed towards infrastructure and other assets capable of supporting economic growth.
Otti said Abia was being repositioned as a regional destination for investment, noting that investors were highly sensitive to uncertainty.
He identified quality infrastructure, security and responsive institutions as key factors in building investor confidence and attracting long-term capital.
The governor said his administration had therefore prioritised road construction and rehabilitation to improve connectivity, open up business locations and restore confidence among businesses and investors.
“We took on long-abandoned roads in our important business hubs and fixed them to announce our intention,” he said, adding that hundreds of kilometres of roads had been rehabilitated since he assumed office.
Otti, however, noted that infrastructure alone was not enough to attract investment, as investors also considered the wider economic environment before committing funds.
During a fireside chat with Bongo Adi, a professor of economics at Lagos Business School, the governor highlighted opportunities in Abia, attributing the state’s growing prospects to the resilience of its people and increased adoption of technology.
He said sustained leadership and effective governance would be essential to making Abia more competitive globally.
“When people see leadership and when they have tasted leadership, they know,” Otti said.
He added, “In 10 years, I see an Abia that can compete globally. If Abia were to be a country, it would be the fourth largest in the world.”
Earlier, President and Chairman of the Nigerian-British Chamber of Commerce, Abimbola Olashore, called for clear and predictable policies, responsive institutions and quality infrastructure to strengthen investor confidence in Abia.
Olashore said businesses and investors needed an enabling environment, security, access to markets and meaningful partnerships to expand their operations and contribute to the state’s economic growth.