NEWS
GOV. OTTI SECURES $200M PRESCO INVESTMENT, ADVANCES AIIP, ATTRACTS MULTI-MILLION DOLLAR PROJECTS AS ABIA’S ECONOMIC TRANSFORMATION GAINS MOMENTUM
The Executive Governor of Abia State, Dr Alex Otti, has unveiled a series of landmark investments and strategic development initiatives aimed at accelerating the state’s economic transformation, with a strong focus on agriculture, industry, healthcare, and infrastructure.
Speaking during the March edition of his interactive session, “Governor Alex Otti Speaks to Abians,” held at the Banquet Hall in Umuahia on Friday, the Governor revealed that the state has secured a $200 million investment deal with Presco Plc for large-scale palm plantation development across four locations in Abia State.
He further disclosed that Abia has been favorably considered for the second phase of a $350 million multi-state agricultural project, a development expected to significantly boost agribusiness, create employment opportunities, and strengthen food security across the state.
Governor Otti reiterated ongoing progress on the Abia Innovation and Industrial Park (AIIP) located in Ukwa, describing it as a long-term industrial hub designed to stimulate manufacturing and economic diversification. He noted that the project will feature a modular refinery, positioning Abia as a strategic player in Nigeria’s industrial value chain.
In the health sector, the Governor acknowledged the donation of an MRI machine valued at $1 million by Church of Jesus Christ of Latter-day Saints, a contribution expected to enhance diagnostic capacity and improve healthcare delivery within the state.
Highlighting strides in private sector-driven industrialization, Governor Otti announced the commissioning of a $35 million beverage production plant in Aba by a private investor. He added that additional expansion phases worth $75 million are already in the pipeline, signaling growing investor confidence in Abia’s business environment.
On aviation and security infrastructure, the Governor disclosed that 200 hectares of land have been approved for the establishment of a Nigerian Air Force base at the proposed Abia International Airport in Nsulu. The project, he said, is being developed in partnership with the Federal Government and is expected to enhance both security and connectivity in the region.
These developments, according to the Governor, underscore his administration’s commitment to building a resilient economy, attracting strategic investments, and positioning Abia State as a hub for industrial growth and innovation in Nigeria.