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Abia State Governor Alex Otti has expressed his administration’s readiness to partner Stanbic IBTC Holdings Plc to finance critical infrastructure projects, strengthen small and medium-sized enterprises (SMEs), and accelerate the state’s economic development. Speaking while receiving the bank’s executive management team, led by Group Chief Executive Chuma Nwokeocha, at the Government House in Umuahia, Otti said strategic partnerships with the private sector are essential to delivering the state’s ambitious development agenda.
The governor identified several priority projects that could benefit from the collaboration, including the proposed Abia Medical City, for which land has already been acquired, and the planned Obuaku Seaport, currently undergoing feasibility studies. He noted that his administration is also open to partnerships in other areas of infrastructure financing and welcomed Stanbic IBTC’s proposals, describing them as practical and value-driven rather than mere requests for government support. Otti also commended the bank for its corporate social responsibility initiatives in the state, particularly its intervention in rehabilitating a school.
In his remarks, Nwokeocha reaffirmed Stanbic IBTC’s commitment to supporting Abia’s development through infrastructure financing, housing finance, SME banking, agro-industrial growth, capital market solutions and strategies to improve internally generated revenue. He praised Otti’s leadership and said the bank chose to deepen its engagement with Abia because of what it described as a shared commitment to good governance, economic transformation and improving the welfare of residents.
