Abia State Governor Alex Otti says the government will partner only competent companies to manage revived industries acquired from AMCON as Nepal Energies seeks to take over Afro Beverages and expand manufacturing projects in Aba and Ukwa West.
Governor of Abia State, Alex Otti, has reaffirmed that the state government will partner only competent companies to manage moribund industries recently acquired by the state.
Otti stated this on Friday, March 13, during a meeting with the management team of Nepal Energies at his office in Nvosi, Isialangwa South Local Government Area.
The meeting followed the interest shown by Nepal Energies in managing Afro Beverages, one of the dormant industries recently acquired by the Abia State Government from the Asset Management Corporation of Nigeria.
The governor explained that the competence, experience, and financial capacity of any prospective investor will play a major role in selecting partners for the management of the industries recovered by the state government.
According to him, the government is adopting a careful and strategic approach to prevent a repeat of past situations where revived industries collapsed again due to poor management.
He stated that the goal of the state government is to restore the industries and hand them over to capable private sector operators who possess the technical knowledge, capital, and managerial skills to sustain them.
“The reason for the acquisition is not for us to run the businesses as a government. We understand the limits of government involvement in commercial enterprises.
“It would be unfortunate after the original founders established the industries, they were later mismanaged, and after the government rescued them, another operator runs them down again.
“That is why we remain careful in selecting investors. The people involved must possess capacity, capital, competence, and the required skills to manage such organisations,” Otti said.
The governor added that the revival of the industries forms part of the administration’s broader strategy to expand economic activities and create employment opportunities across the state.
He noted that unemployment remains a key factor that contributes to crime and social instability, stressing that restoring industries will help create sustainable jobs for residents.
Otti also commended Nepal Energies for initiating an industrial project in Ukwa West Local Government Area and for participating in the production of Plaster of Paris cement in Aba.
He noted that the company’s involvement in scaling production capacity from 200 tonnes to about 1,500 tonnes demonstrates its interest in industrial development within the state.
Earlier in her remarks, the Managing Director of Nepal Energies, Ngozi Ekeoma, expressed the company’s interest in partnering with the Abia State Government to revive Afro Beverages.
She explained that the company believes the facility has strong potential for revival and industrial productivity under proper management.
Ekeoma also noted that improved electricity supply in Aba has created a favourable environment for industrial growth and manufacturing expansion.
According to her, Nepal Energies has already partnered with another firm involved in the production of Plaster of Paris cement in Aba, with a current production capacity of about 200 tonnes per day.
She added that the company plans to increase the production level to about 1,500 tonnes within the next 18 months.
The managing director further disclosed that Nepal Energies, which operates mainly in the downstream oil and gas sector, is expanding its investment portfolio into non oil manufacturing businesses.
She revealed that the company is currently constructing a four tonne per hour detergent manufacturing plant in Ukwa West Local Government Area.
Ekeoma expressed confidence that the detergent factory will begin production before the end of the year.
“We came to partner with the state government to take over one of the industries currently owned by the Abia State Government.
“We believe the facility can be revived and restored to full operation. This is not the first manufacturing plant owned by our group.
“At the moment we already partner with another company producing Plaster of Paris cement in Aba.
“We are also building a four tonne per hour detergent plant in Ukwa West and production should begin before the end of the year,” she said.
Officials present during the meeting included the Chief of Staff to the Governor, Caleb Ajagba, the Commissioner for Industry and Small and Medium Enterprises, Mike Akpara, the Commissioner for Power and Public Utilities, Ikechukwu Monday, the Director General and Chief Executive Officer of the Public Private Partnership and Investment Promotion Office, Chinedum Chijioke, and the Director General of the Greater Aba Development Authority, Uche Ukeje.
The Abia State Government recently acquired several moribund industries from AMCON as part of efforts to restore manufacturing activities, stimulate economic growth, and strengthen industrial development across the state.