NEWS
Gov. Otti Approves in Principle Nepal Energies’ Takeover of Afro Beverages as Abia Pushes Private Sector-Driven Industrial Growth and Job Creation Agenda
Abia State Governor, His Excellency, Dr. Alex Chioma Otti, OFR, has in principle given approval to the proposal by Nepal Energies Limited to take over and manage the Afro Beverages Company, a firm recently acquired by the State Government from the Asset Management Corporation of Nigeria (AMCON), in a move aimed at strengthening industrial productivity and economic expansion in the State.
The Governor made his position known while receiving a delegation led by the Chief Executive Officer of Nepal Energies Limited, Dr. Ngozi Ekeoma, alongside members of her management team during a high-level engagement at the Government House.
Governor Otti expressed confidence in the technical and managerial capacity of Nepal Energies Limited, stating that the company possesses the requisite competence to efficiently run the beverage outfit and reposition it for optimal performance.
He emphasized that the State Government’s decision to acquire Afro Beverages was never intended for direct government operation or profit-making ventures, but rather as a strategic intervention to revive the company and transition it into private sector management for sustainability and growth.
“We don’t even want to run business. We want to create an environment for businesses to run, make money, create jobs, improve GDP, reduce poverty.
“So, profitability is the last thing that we think about. So, we are very happy,“ Governor Otti stated.
The Governor further explained that the overarching goal of his administration is to stimulate economic activities by creating an enabling environment that attracts credible investors, drives employment opportunities, and contributes significantly to the Gross Domestic Product (GDP) of the State.
As part of the process, Governor Otti directed the management of Nepal Energies Limited to submit a comprehensive and detailed proposal outlining their operational framework and investment strategy for the final consideration of the State Government. The meeting subsequently proceeded into a closed-door session to deliberate further on the proposed takeover.
Providing additional insight into the structure of the partnership, the Governor disclosed that the Abia State Government would retain only a minority equity stake of not more than 20 percent in the company, thereby allowing the private sector to take the lead in its management and operations.
He also revealed that although the State Government had received expressions of interest from foreign investors, priority was given to Nepal Energies Limited, reaffirming his trust and confidence in the company’s capacity to deliver on its mandate.
Earlier in her remarks, the Chief Executive Officer of Nepal Energies Limited, Dr. Ngozi Ekeoma, stated that the visit was to formally present the company’s proposal for the final takeover and management of Afro Beverages Company.
Dr. Ekeoma expressed optimism that the State Government would grant her organization the opportunity to take over the business and reposition it as a thriving industrial hub. She commended Governor Otti for fostering a conducive and investor-friendly environment in Abia State, which she noted has continued to attract business interests into the State.
The meeting was attended by top government functionaries, including the Deputy Governor, His Excellency, Engr. Ikechukwu Emetu; the Secretary to the State Government, Dr. Emmanuel Meribeole; the Chief of Staff to the Governor, Pastor Caleb Ajagba, Ph.D; the Commissioner for Industries and SMEs, Mazi Mike Akpara; and the Director-General of the Strategic Communication Bureau, Barr. Onyebuchi Ememanka, among
other key appointees.