Abia State Governor, Alex Otti has revealed that the state has secured approvals for about ₦1.24 trillion in private capital investments, with power and energy among the sectors targeted by the investments.
Governor Alex Otti disclosed this on Thursday in Lagos at the Nigerian-British Chamber of Commerce (NBCC) Meet the Governor Series.
Otti said the approved investments comprise about ₦914 billion in joint ventures and ₦327 billion in design-build-operate-transfer (DBOT) projects.
According to him, the investments cut across key areas of the state’s economy, including power and energy, with some of the projects expected to be flagged off soon.
The governor said the state had focused on creating an environment that would make it easier for private investors to bring capital into Abia and participate in infrastructure and economic development.
He said the investment approvals reflected growing investor confidence in the state and its economic reforms.
Otti also said the state was working to ensure that approved investments moved from commitments to actual projects.
The governor’s disclosure comes as states increasingly seek private capital to bridge infrastructure and financing gaps, particularly in sectors requiring large upfront investment.
For Abia, increased private participation in power and energy could support industrial activity and reduce infrastructure constraints affecting businesses in the state.
The governor did not disclose details of the individual power and energy projects or their respective investment values at the event.