Gov. Otti Expresses Readiness to Partner Stanbic IBTC on Infrastructure Financing, SME Growth
Abia State Governor, Dr. Alex Otti, OFR, has reaffirmed his administration’s commitment to building strategic partnerships with the private sector, declaring that the state is ready to collaborate with Stanbic IBTC Holdings Plc on infrastructure financing, SME development, and other key sectors capable of accelerating economic growth.
The Governor made the remarks on Thursday, July 9, 2026, 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.
Governor Otti explained that his administration is actively pursuing major development projects that require strong financial partnerships and innovative funding models. He identified the proposed Abia Medical City and the planned Obuaku Seaport as two flagship initiatives where the financial institution could play a significant role.
According to the Governor, the Abia Medical City remains one of the state’s highest-priority projects, noting that the required land has already been secured and preparations are at an advanced stage.
He also revealed that the government is currently conducting a feasibility study for the proposed Obuaku Seaport, describing it as another strategic investment capable of transforming the state’s economy through increased trade, logistics, and industrial development.
Governor Otti stressed that beyond these projects, his administration is open to exploring additional areas of cooperation with Stanbic IBTC, adding that technical teams from both sides would engage in detailed discussions to identify mutually beneficial opportunities.
The Governor commended the bank for presenting practical partnership proposals rather than seeking financial support from the government. He noted that meaningful collaborations should create value for both parties and contribute directly to the state’s development agenda.
He also appreciated Stanbic IBTC for its corporate social responsibility initiatives in Abia, particularly its intervention in rehabilitating a school within the state, while encouraging the institution to expand such social investments to benefit more communities.
Earlier, the Group Chief Executive of Stanbic IBTC Holdings Plc, Mr. Chuma Nwokeocha, reiterated the bank’s commitment to supporting the Abia State Government in driving sustainable economic development through its comprehensive financial services.
He disclosed that the bank is prepared to partner with the state in areas including infrastructure financing, housing finance, small and medium-sized enterprise (SME) development, agro-industrial expansion, capital market solutions, and strategies for boosting Internally Generated Revenue (IGR).
Mr. Nwokeocha expressed confidence that a long-term collaboration with the Abia State Government would attract new investments, strengthen economic activities, create employment opportunities, and improve the living standards of residents.
He praised Governor Alex Otti’s leadership and reform-driven administration, stating that Stanbic IBTC’s interest in partnering with Abia was influenced by the state’s commitment to transparency, purposeful governance, and shared ambitions for inclusive development.
According to him, the alignment between the bank’s corporate vision and the state’s development objectives makes Abia an ideal partner for strategic investment and economic transformation.
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The meeting was attended by the Commissioner for Finance, alongside other commissioners and senior government officials, as discussions focused on strengthening public-private partnerships to deliver sustainable infrastructure, expand access to finance for businesses, and unlock new economic opportunities across Abia State.
