Businessman-turned-politician and Chairman of Capital Oil and Gas, Chief Ifeanyi Ubah, has revealed that the gigantic Olympic-size stadium he is building in his country home, Nnewi in Anambra State, will cost $300 million on completion.

He made the disclosure on Wednesday during an inspection visit of the project by the State Governor, Chief Willie Obiano. Ubah said that the sports arena would generate 5,000 jobs while other compartments to be constructed would include a games village, youth and women development centre, football academy, five-star hotel and 200-capacity residential apartment.

Ubah, who is the proprietor of Nigerian Premier League side Ifeanyi Ubah FC, used the occasion to call on South East governors to embark on aggressive rehabilitation of roads in the area to foster development.

He said: “The zone has the worst roads in the country in spite of the volume of commercial activities in the area. Though the Federal Government has more of the responsibility of rehabilitating most of busy roads in the area, the state governors should not fold theirs hand waiting while the people would suffer.

“The state of the roads here is pathetic, but I must say that the governors of South East need to be more sincere to themselves and the people.

“The issue of corruption is worrisome; some of them are building mansions for themselves rather than work for the people. I feel like crying because the plights of the masses have never been their worries and we may not achieve much if we don’t have governors that have the people at heart.”

Ubah also regretted that the NNPC Depot in Enugu which had been ineffectual since 2006 was negatively affecting the price and availability of petroleum products in the South East and called for urgent rehabilitation of the facility.

According to him, “I have played an intervention role by building a tank farm in the zone but regret that it is yet to address the problem of fuel scarcity in the area.”

He also lauded the Federal Government for its efforts to repair the depot in Enugu.

Ubah said he would partner the Government of Anambra in the area of sports, women and youth empowerment.

•Photo shows Ifeanyi Ubah.

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