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Gov. Alex Otti Seeks Stanbic IBTC Partnership to Drive Abia Medical City, Obuaku Seaport, SME Growth
Gov. Alex Otti Seeks Stanbic IBTC Partnership to Drive Abia Medical City, Obuaku Seaport, SME Growth
The Executive Governor of Abia State, His Excellency Dr. Alex Chioma Otti, OFR, has reaffirmed his administration’s commitment to forging strategic partnerships that will accelerate infrastructure development, boost economic growth, and create opportunities for businesses across the state.
The Governor made this known on Thursday, July 9, 2026, in his office while receiving the Executive Management of Stanbic IBTC Holdings Plc, led by its Group Chief Executive, Mr. Chuma Nwokeocha.
During the meeting, Governor Otti said his administration is prepared to work with the financial institution in key areas including infrastructure financing, Small and Medium Enterprises (SME) banking, housing finance, and other critical sectors capable of driving sustainable development in Abia.
The Governor identified the proposed Abia Medical City and the Obuaku Sea Port as two major flagship projects requiring strong financial partnerships, noting that both initiatives have the potential to transform the state’s economy and attract significant investments.
“But clearly, the area of infrastructural financing is the area we have a lot of things that we have proposed to do. One of them is a medical city. It sits as a top priority. The land has been acquired, we are just at the point where we need to hit the ground running.
“So, it may be an area that you may want to look at with us.
“We are also conducting a feasibility study for a sea port in Obuaku. It is also another area that you may want to look at. And a few other things.
“So, I think we will need to look more deeply at the presentation. And then, smaller meetings will be formed to discuss areas where we can engage,” Governor Otti stated.
Governor Otti noted that the State Government remains open to meaningful collaborations capable of delivering tangible benefits to the people, adding that every partnership must be built on value creation and shared objectives.
Commending Stanbic IBTC for presenting concrete business proposals, the Governor contrasted the bank’s approach with that of organizations that seek government support without offering viable contributions.
“Sometimes, some people come and say they want to partner with you. They don’t have anything to say. They just want you to give them money. But clearly, there are values that you have proposed,” Governor Otti said.
The Governor also appreciated the bank for renovating a school in Abia as part of its Corporate Social Responsibility (CSR) initiatives and encouraged the institution to expand its interventions in the education sector and other areas that directly impact the lives of residents.
Earlier, the Group Chief Executive of Stanbic IBTC Holdings Plc, Mr. Chuma Nwokeocha, reaffirmed the institution’s commitment to partnering with the Abia State Government to stimulate economic growth through its wide range of financial services.
According to him, the bank is ready to support the state in areas including housing finance, SME development, infrastructure financing, agro-industrial expansion, capital market solutions, and strategies aimed at enhancing the state’s Internally Generated Revenue (IGR).
He expressed optimism that a strong collaboration between Stanbic IBTC and the Abia State Government would attract more investments, strengthen the state’s economy, and improve the welfare of Abia residents.
Mr. Nwokeocha also praised Governor Alex Otti for what he described as exemplary leadership and good governance, explaining that the administration’s vision and commitment to development informed the bank’s decision to deepen its relationship with the state.
“Why Abia State? There is a convergence of value, there is a convergence of good governance, there is a convergence of purpose, there is a convergence of ambition to better the lives of
citizens,” Mr. Nwokeocha said.
The high-level meeting was attended by Principal Secretary and Chief Strategy Officer to the Governor, Mr. Chinenye Mba-Uzoukwu; the Commissioner for Finance, Dr. Uwaoma Ukandu, the Commissioner for Basic and Secondary Education, Elder Goodluck Ubochi; the Commissioner for Arts, Culture and Creative Economy Chief Matthew Ekwuribe; the Senior Special Assistant to the Governor on Budget and Planning, Dr. Eric Egwuibe, among others, as discussions focused on building strategic partnerships capable of unlocking new economic opportunities and accelerating Abia’s development agenda.
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