Gov. Alex Otti Seeks Stanbic IBTC Partnership to Drive Abia Medical City, Obuaku Seaport, and SME Growth

The Abia State Government has taken another bold step toward accelerating economic development by opening discussions with Stanbic IBTC Holdings Plc on strategic partnerships that will support critical infrastructure, healthcare, entrepreneurship, and investment across the state.

Governor Dr. Alex Chioma Otti, OFR, made this known on Thursday while receiving the Executive Management of Stanbic IBTC Holdings Plc, led by its Group Chief Executive, Mr. Chuma Nwokeocha, at the Government House in Umuahia.

During the meeting, Governor Otti identified infrastructure financing as a major priority for his administration, revealing that the proposed Abia Medical City and the Obuaku Deep Sea Port are among the flagship projects for which the state is seeking credible financial and technical partners.

According to the Governor, the Abia Medical City project has already crossed a significant milestone with land acquisition completed, and the government is now preparing to commence implementation.

He also disclosed that the state is undertaking a feasibility study for the proposed Obuaku Seaport, a project expected to transform Abia into a major logistics and commercial hub in the South-East.

Governor Otti noted that beyond these projects, his administration remains open to collaboration in other sectors that will stimulate economic growth, create jobs, and improve the quality of life for residents.

Commending Stanbic IBTC for presenting concrete proposals, the Governor remarked that meaningful partnerships are built on shared value rather than requests for financial support alone.

He further applauded the bank for its corporate social responsibility initiatives in Abia, particularly its intervention in rehabilitating a public school, while encouraging the institution to expand its developmental footprint across the state.

Earlier, the Group Chief Executive of Stanbic IBTC Holdings Plc, Mr. Chuma Nwokeocha, reaffirmed the bank’s commitment to supporting the economic transformation agenda of the Abia State Government.

He said the financial institution is prepared to deploy its expertise in infrastructure financing, housing finance, SME development, agro-industrial investment, capital market solutions, and strategies for improving the state’s Internally Generated Revenue (IGR).

Mr. Nwokeocha expressed confidence that a strategic alliance between Stanbic IBTC and the Abia State Government would unlock fresh investments, stimulate sustainable economic growth, and enhance the welfare of the people.

Explaining why the bank chose to deepen its engagement with Abia, he cited what he described as a strong alignment of vision and values with Governor Otti’s administration.

According to him, the partnership is inspired by a shared commitment to good governance, purposeful leadership, and the collective ambition to improve the lives of citizens through sustainable economic development.

The meeting was attended by the Commissioner for Finance, other members of the State Executive Council, senior government officials, and top executives of Stanbic IBTC Holdings Plc, highlighting the importance both parties attach to the proposed partnership.

If successfully implemented, the collaboration is expected to provide the financial backbone for some of Abia’s most ambitious development projects while strengthening the state’s position as one of Nigeria’s emerging investment destinations.