{
  "id": 3238335,
  "title": "With a revived power project, Aba's industries are buzzing again",
  "url": "https://urgent.news/2026/08/25/with-a-revived-power-project-abas-industries-are-buzzing-again",
  "topic": "business",
  "section": "Business",
  "published": "2026-08-25T08:43:44.000Z",
  "source": {
    "name": "Africa Business",
    "slug": "africa-business",
    "url": "https://african.business/2026/08/partner-content/with-a-revived-power-project-abas-industries-are-buzzing-again"
  },
  "original_language": "en",
  "account": "Aba, a state in the south-east of Nigeria, is known for its thriving industries in manufacturing, fashion, leatherwork, and furniture. However, the lack of stable and adequate power had been a significant obstacle for businesses and entrepreneurs in the region. To address this issue, the Aba Integrated Power Plant was revived in 2021, with a $50m loan from Africa Export-Import Bank. The project, developed by Geometric Power, has provided more power to Aba's residents and entrepreneurs, enabling businesses to expand, new enterprises to be built, and jobs to be created.\n\nProfessor Bart O. Nnaji, founder and chairman of Geometric Power, recalls the challenging period when the project stalled after a concession was sold to another company. Afreximbank eventually rescued the project, allowing it to be revived. Derin Fajuyitan, head of trade enabling infrastructure, project, and asset-based finance at Afreximbank, believed in the project's underlying rationale, stating that the project would help businesses expand and create jobs.\n\nThe Afreximbank financing enabled Geometric Power to complete the power plant, which is now supplying electricity to the designated area. The project is expected to contribute significantly to Abia State's GDP, lowering energy costs and attracting new businesses. In the first year of operation, electricity access has improved dramatically, with metering penetration increasing from 2% to 80%. Businesses that had previously left the state are returning, and new businesses are appearing across the area covered by the project.\n\nThe most significant impact has been the ability of businesses to rely on stable power from the grid, eliminating the need for expensive diesel generators. Entrepreneurs like Prince Arthur Uche, founder and CEO of Beyond Clothing, have seen a significant reduction in costs and can now expand their production capacity. Similarly, Raymond Mkpurouma Aliga Mon, co-founder and CEO of R&A Mahogany and Interiors, has been able to produce designs that were previously imported, leading to increased production and potential job creation.",
  "summary": "A $50m Afreximbank-backed project is helping to transform Aba's industrial fortunes, replacing costly generators with more reliable electricity and giving the city's manufacturers, artisans and entrepreneurs the power to expand, invest and create jobs.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}