Otti: We’ve Rebuilt Abia into Regional Magnet for Inflow of Investment Capital

Dr. Alex Otti, the governor of Abia State, has called on businesses to invest in the region, claiming that his administration has transformed Abia into a regional hub for attracting investment capital. This announcement occurred during the Nigeria-British Chamber of Commerce’s "Meet the Governor Series" in Lagos, where the theme was "Repositioning Abia for Enterprise, Industrialisation and Sustainable Economic Growth."

President/Council Chairman of NBCC, Mr. Abimbola Olashore, welcomed the attendees, stating that the event facilitated direct communication between the government and the business community, enabling investors, entrepreneurs, and corporate leaders to understand government priorities, development plans, and emerging opportunities.

Otti emphasized that development occurs when the private sector takes advantage of public sector investments to achieve corporate goals. He explained that much of Abia State's progress in the past three years has been in rebuilding the state into a regional magnet for investment.

Otti stated that investors, whether local or foreign, can identify investment opportunities independently, without needing expensive persuasion. He highlighted that his administration is committed to laying a strong foundation for sustained economic development by allocating 80% of the annual budget to capital expenditure. This approach, according to Otti, is essential for long-term development, as it relies on partnerships between the government and the private sector, setting the stage for infrastructure investments, institutional reforms, and safety assurances.

The governor noted that government commitment to capital spending in Abia is the highest per resident, based on national expenditure figures. The state has allocated at least 80% of its budget to capital expenditure, and has also invested 15% in healthcare delivery, positioning Abia as a leader in health emergency preparedness. Otti also highlighted that Abia ranks well in terms of security of life and property, a factor that appeals to the business community.

Otti assured attendees that Abia is a favorable location for ease of doing business, with the lowest cost of public transportation in the country. He pointed out that the state's urban and rural networks, along with strategic investments in green shuttle buses, have significantly reduced the costs associated with businesses, including turnaround time and ultimately, net profits.

Otti further revealed that businesses that left the state previously are now returning, due to Abia's lower costs compared to other states, including transport costs, rental fees, and security. The governor concluded by emphasizing the expanding consumer market in Abia, driven by a growing population and increased public expenditure, which creates a favorable environment for business growth.