Abia State Partners with Nepal Energies to Resuscitate Moribund Company
Abia State Government has partnered with Nepal Energies to revive Afro Beverages, a moribund industry acquired from the Asset Management Corporation of Nigeria (AMCON). Governor Alex Otti emphasized that the state government is committed to partnering with competent companies to manage the industry.
Speaking during a meeting with Nepal Energies’ management team, Governor Otti stated that the state government is meticulous in selecting investors to avoid past mistakes where industries were revived only to collapse again. He noted that the goal is to create job opportunities and stimulate economic growth, as unemployment is a major driver of crime and criminality.
“The reason for the acquisition is not for us to go in and run it, as a government, we know where our limits are,” Governor Otti said. “It would be a disaster after the original visionaries set it up, passed it on, and then it was ran aground, and we rescued it, and somebody else comes and runs it aground again.”
Nepal Energies’ Managing Director, Dr Mrs Ngozi Ekeoma, expressed her company’s interest in partnering with the state government to acquire and revive Afro Beverages. She highlighted Nepal Energies’ existing investments in the state, including a Plaster Of Paris (POP) Cement production plant in Aba and a detergent manufacturing plant in Ukwa West LGA.
“We have come to partner with the State to get one of the industries that is in Abia, that is currently being owned by Abia State Government,” Dr Mrs Ekeoma said. “We think it’s something that we can revive, revamp, and put it back in a state that it should be.”
The meeting ended with both parties agreeing to partner in the development of Abia State, with the government seeking to leverage Nepal Energies’ expertise and resources to revive the state’s moribund industries.
