Abia State acquires Afro Beverages from AMCON to revive Aba industries, create jobs, and boost the state’s manufacturing economy.
Abia State has taken another bold step toward restoring its industrial strength with the acquisition of Afro Beverages from the Asset Management Corporation of Nigeria (AMCON). The move signals a renewed commitment by the administration to reposition Aba as a leading manufacturing and commercial hub in Nigeria’s Southeast.
The announcement was made by Governor Alex Otti during his monthly media briefing, where he confirmed that the state had finalized the takeover of the beverage company. The development follows the earlier N2.5 billion repurchase of Star Paper Mill in December 2025, a deal widely seen as the beginning of a broader industrial revival strategy.
According to the governor, the government’s plan goes beyond reclaiming dormant assets.
The focus is on creating an enabling environment that will attract credible private investors to resuscitate major industrial sites, including Afro Beverages and Aba Textile Mills. Each revived facility is projected to generate between 3,000 and 5,000 direct and indirect jobs, significantly reducing unemployment across the state.
The administration believes that restoring these legacy industries will help rebuild Aba’s reputation as the “Japan of Africa,” known for its strong entrepreneurial base and thriving small and medium-scale enterprises. By breathing life back into abandoned factories, the state aims to stimulate economic activity, expand local production, and strengthen supply chains within the region.
Industry watchers say the acquisition demonstrates a strategic shift from reliance on federal allocations toward sustainable, production-driven growth. If successfully implemented, the initiative could transform Abia into a southeastern economic powerhouse, anchored on manufacturing, innovation, and private-sector collaboration.
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With Afro Beverages now under state control, attention will turn to how quickly investors can be brought on board and how efficiently operations can resume. For residents of Aba and beyond, the renewed industrial drive represents both hope and opportunity for long-term economic stability.