Abia State Governor, Dr. Alex Otti, has intensified efforts to attract local and foreign investments to the state, showcasing major opportunities in healthcare, industrial development, energy, transportation and agriculture before a global audience at the Invest Lagos 3.0 Summit.
Speaking at the international investment forum held in Lagos on Monday, Otti urged investors to partner with his administration in unlocking the vast economic potential of Abia, particularly through the proposed Medical City Project and the Abia Industrial and Innovation Park (AIIP).
The summit, hosted by the Lagos State Government in collaboration with the Commonwealth Enterprise and Investment Council (CWEIC), attracted investors, policymakers, development partners and business leaders from across the world.
Among the dignitaries present were Vice President Senator Kashim Shettima, Commonwealth Secretary-General Shirley Botchwey, Secretary-General of the African Continental Free Trade Area (AfCFTA), Wamkele Mene, and CWEIC Chairman Lord Marland.
Addressing participants during the investment pitch session, Otti said his administration had laid a strong foundation for economic growth through strategic investments in infrastructure, healthcare, power and industrial development.
He identified the planned Medical City as one of the state's flagship projects, explaining that it is aimed at reducing the huge amount spent annually by Nigerians seeking medical treatment abroad.
According to the governor, the state government has already acquired and prepared 200 hectares of land for the project and constructed the necessary access roads.
"We require about $1.3 billion in investment to actualise the Medical City project. The goal is to reverse medical tourism and retain a significant portion of the billions of dollars Nigerians spend on healthcare outside the country every year," he said.
Otti also highlighted the Abia Industrial and Innovation Park located in Owaza, describing it as a strategic industrial hub with strong potential for manufacturing and processing industries, particularly because of its proximity to oil and gas resources.
The governor used the occasion to outline reforms and achievements recorded by his administration over the last three years, especially in the healthcare sector.
He noted that healthcare has consistently received 15 per cent of the state's annual budget, while education has maintained the highest allocation at 20 per cent.
According to him, the government has renovated 277 primary healthcare centres, recruited about 800 healthcare workers and commenced the rebuilding of seven general hospitals across the state.
He added that major investments are also being made in tertiary healthcare institutions, including the Abia State University Teaching Hospital in Aba and the Specialist Hospital in Amachara.
Otti further presented the state's infrastructure development drive, revealing that his administration has completed or rehabilitated 414 roads covering about 864 kilometres, while construction is ongoing on another 82 roads spanning more than 200 kilometres.
The governor said improving infrastructure remains critical to attracting investors and creating a conducive environment for businesses.
On energy, Otti pointed to the success of the Geometric Power Project in Aba, which currently provides near-round-the-clock electricity to nine local government areas within the Aba ring-fenced zone.
He disclosed that discussions were ongoing with the Enugu Electricity Distribution Company (EEDC) to extend the model to Umuahia and other parts of the state.
The governor expressed optimism that stable electricity supply would significantly reduce production costs for industries and encourage manufacturers to relocate to Abia.
He revealed that an investor had already indicated interest in moving a steel manufacturing plant to the state because of the availability of reliable power.
"We have allocated land close to Geometric Power for the project because access to electricity is a major consideration for manufacturers," he said.
Otti also highlighted progress in the transport sector, noting that 20 electric buses currently operate across the state, while another batch of 20 buses is expected from China.
He said the government plans to increase the fleet to 100 electric buses before the end of the year.
The governor disclosed that Abia has attracted substantial private-sector investments in recent years, particularly in agriculture and manufacturing.
He said Presco Plc and Nimble Shaw have jointly committed more than $320 million to oil palm cultivation and processing projects, while KADJI Group is investing about $100 million in a production facility in Aba.
He further revealed that the state government had acquired the dormant Star Paper Mill and Afro Beverages facilities from the Asset Management Corporation of Nigeria (AMCON), with discussions already underway with prospective investors interested in reviving the industries.
Otti also informed participants that work was progressing on the state's airport project being developed in partnership with the Federal Government.
In addition, he said the state had approved a feasibility study for the proposed Ukwa Seaport project, which is expected to enhance trade and strengthen Abia's position as a regional economic hub.
He thanked Lagos State Governor Babajide Sanwo-Olu for creating a platform that allowed states to present their investment opportunities directly to the international business community.
The governor expressed confidence that ongoing reforms and infrastructure investments would continue to position Abia as one of Nigeria's most attractive destinations for business and industrial growth.
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