Abia Infrastructure Financing: Otti Woos StanbicIBTC for Medical City, Seaport Projects
Quick Reads
- Abia State has opened talks with StanbicIBTC on Abia infrastructure financing for key development projects.
- Governor Alex Otti says land for the proposed Abia Medical City has already been acquired.
- The state is also running a feasibility study for a seaport in Obuaku.
- StanbicIBTC’s Group CEO, Chuma Nwokocha, pledged the bank’s commitment to Abia’s growth.
The Abia State Government has thrown its weight behind a fresh push for Abia infrastructure financing, seeking a partnership with StanbicIBTC to bankroll major projects including the proposed Abia Medical City, the Obuaku Seaport, and SME development across the state.
Governor Alex Otti made the disclosure on Thursday while hosting StanbicIBTC’s Group Chief Executive, Chuma Nwokocha, and other senior bank executives in Nvosi, Isiala Ngwa South Local Government Area.
The governor said infrastructure remains a top priority for his administration, revealing that plans for the Abia Medical City have reached an advanced stage, with land already secured for the project. He described it as a flagship initiative that needs to move quickly from paper to reality.
“The area of infrastructure financing is where we have a lot of projects that we have proposed to execute,” Otti said, adding that the Medical City “sits as a top priority.”
Beyond healthcare, Otti revealed that the state is also conducting a feasibility study for a proposed seaport in Obuaku, positioning it as another opportunity for strategic investment and long-term Abia infrastructure financing partnerships.
Responding, Nwokocha praised the Otti administration’s progress so far, calling Abia one of Nigeria’s leading industrial and commercial hubs, powered by strong SMEs, active manufacturing, and busy markets. He said StanbicIBTC’s interest goes beyond banking, describing it as a shared push toward sustainable development and better livelihoods for residents.
“We recognise the opportunities and enormous potential in Abia,” Nwokocha said, noting a “convergence of values, purpose, governance, and ambition” between the bank and the state government.
If the partnership materialises, it could mark a significant boost for Abia’s development agenda, particularly for a state government looking to convert big-ticket plans into concrete infrastructure on the ground.
