By IHECHINYERE CHIGEMERI-UWOM

Abia State Governor, Alex Otti, says his administration is prioritising infrastructure development and business-friendly policies to attract private sector investment and stimulate economic growth.

Otti said this on Thursday at the maiden Abia Business Roundtable orgnised by the State Government in Umuahia, with the theme, “Where Vision Meets Enterprise”.

He said that the state government recognised from the outset that it must set the pace for economic transformation before inviting private sector participation.

Otti noted that his administration’s decision to invest heavily in critical infrastructure, alongside the introduction of a six-month tax holiday for small businesses, was meant to remove barriers to productivity and encourage investors.

According to him, assessments carried out in the state identified poor road infrastructure as the major constraint to private sector participation, followed by security concerns, unreliable power supply and multiple taxation by government agencies.

The governor said that his administration responded by launching an extensive road infrastructure restoration programme, beginning with economically strategic areas of the state.

He also said that although the scale of investment in road infrastructure came with significant opportunity costs, the government remained committed to rebuilding the business ecosystem and restoring investor confidence.

He said that the initiative is necessary to encourage entrepreneurs and business owners, who have previously shut down operations or relocated, to reconsider investing in the state.

“Our principal task on assumption of office was to restore hope, rebuild the confidence of the business community and give our people a reason to believe again,” Otti said.

He disclosed that the State Government committed more than 80 per cent of its annual budgets in 2024, 2025 and 2026 to capital projects, as part of efforts to reposition the state economy.

He expressed appreciation to participants at the roundtable for their confidence in the government’s economic reforms and their willingness to engage with the state on investment opportunities.

He described the meeting as the first layer of a broader engagement framework, designed to improve information flow between the government and the business community.

Otti said that the insights generated from panel discussions and breakout sessions during the event would be reviewed and possibly incorporated into government policies and implementation strategies.

He explained that the objective was to develop public sector policies aligned with the expectations and realities of private sector stakeholders.

Otti also said that the engagement platform was created to reduce the limitations associated with policy design, driven solely by government bureaucrats without input from the business community.

He reiterated his administration’s commitment to expanding the private sector ecosystem through sustained investment in infrastructure.

He said that the strategy was expected to attract entrepreneurs and corporate investors, create employment opportunities for young people and revive key economic assets in the state.

Otti further said that the government was also investing in human capital development to prepare the workforce for opportunities that would emerge from increased private sector activities.

He said that government offered investors numerous advantages, including favourable tax policies, a robust security network, large consumer market and a strong pool of skilled and unskilled labour.

In a speech, a former Nigerian Ambassador to Singapore, Mrs Nonye Rajis-Okpara, said that international investors were beginning to show interest in opportunities in the state.

Rajis-Okpara said she was leveraging international networks to attract investors to the state, particularly in agriculture and agro-processing.

She said that the objective was to link Abia businesses with global investors to support mechanised agriculture and local processing of raw materials.

She said that the initiative would help establish sustainable businesses that could eventually be managed locally.

Rajis-Okpara expressed the confidence that stronger collaboration between government and investors would accelerate the state’s economic transformation.

The Secretary to the State Government (SSG), Dr Emmanuel Meribole, said that economic transformation could not be achieved through government pronouncements alone, but through deliberate collaboration with investors.

Meribole also said that the meeting was a strategic platform aimed at strengthening partnerships between government and the private sector.

He said that investors coming into the state were not starting from the scratch, but building on existing capacities and scaling them for greater productivity.

He further said that the State Government was prioritising the development of the real sector, in order to shift the economy from consumption to production.

The SSG said that the government remained committed to providing regulatory clarity and improving the ease of doing business in the state.

He also said that the State Government was also willing to review policies where necessary and pursue strategic partnerships that would promote sustainable business growth.

He said that the ultimate goal was to see goods produced in the state exported and proudly branded “Made in Abia”.

Also, Mr Chinedum Chijioke, Director-General of the Abia Public-Private Partnership and Investment Promotion Office, said the government was focused on building professionally structured partnerships with the business community.

Chijioke said that the partnership would foster engagements aimed at achieving the development vision of the present administration.

He said that government was streamlining its engagement processes with investors, accelerating review and approval procedures, as well as strengthening investor after-care services.

In his remark, Mr Ifeanyi Ugwuoke, National Team Leader, Partnership for Agile Governance and Climate Engagement (PACE), commended Abia for positioning itself to access climate finance for sustainable development.

Ugwuoke said that PACE had supported Abia in conducting climate finance readiness assessments to determine its eligibility for global climate funding.

According to him, some green businesses in the state had also been supported to assess their readiness for climate investments.

“Five of the businesses have already been matched with potential funders and investors and they are making good progress,” he said.

He also said that climate finance opportunities existed through development finance institutions, bilateral partnerships and commercial banks to support investments in green technologies.

Ugwuoke said that Abia had already demonstrated commitment to green development, through initiatives, such as the deployment of electric buses.

A businessman, Chief David Ogba-Onuoha, said strong collaboration between government and the private sector was essential for economic prosperity.

Ogba-Onuoha said that investors are attracted by signals of transparency, fiscal discipline and policy consistency.

He also said that the next phase of economic growth in the state should focus on industrial clusters and technology-driven enterprises.

The event featured breakout and networking as well as question and answer sessions with the governor. (NAN)