Abia State Governor, Dr Alex Otti, has challenged Manufacturers to improve the quality, scale and competitiveness of their products to compete globally.
Governor Otti stated this when he received members of the Manufacturers Association of Nigeria (MAN), Abia/Imo Chapter, as well as the Rivers /Bayelsa Chapter, who paid him a courtesy visit in his office at Nvosi Isialangwa South LGA.
The Governor stressed that the state’s industrialists had a major role to play in transforming Abia’s economy adding that manufacturers could do far better despite the challenges confronting businesses.
He said his administration is deliberately investing in the infrastructure and business environment required for industrial production to thrive, while also creating avenues for manufacturers and small businesses to access finance.
He noted the state government’s partnership with the Bank of Industry (BOI), under which a ₦10 billion funding arrangement was established to support small and medium enterprises across Abia.
Governor Otti said the objective was not merely to provide financial assistance but to create an ecosystem where businesses could expand, employ more people and compete beyond the traditional markets for which Aba is known.
The Governor said the responsibility for the next phase of Abia’s economic transformation could not rest solely on government, urging manufacturers to also improve their own standards and take advantage of the opportunities being created.
He also urged manufacturers to take advantage of the changing global economy and embrace technology, adding that global economy was increasingly being driven by manufacturing, technology and digital commerce.
.
According to him, the objective was to position Abia businesses to sell beyond their immediate environment and participate in global commerce.
On electricity, Governor Otti acknowledged manufacturers’ concerns about the cost of power but said the government was pursuing multiple sources of electricity, including engagements with Geometric Power, TotalEnergies and Niger Delta Power Holding, to provide alternatives and reduce dependence on a single source.
“This Government is supporting manufacturing. We are driving digital delivery. We are leaving that physical store for digital delivery”, the Governor said.
He assured that his government would continue to support the productive sector, but businesses must equally be prepared to innovate, expand production and meet the standards required to compete in increasingly integrated markets.
Earlier, the MAN Chairman, Abia/Imo Chapter, Mr Obasi Ekeagbara, commended Governor Otti for the transformation across manufacturing, power, education, roads, healthcare, agriculture among others.
Mr Ekeagbara also commended the present administration for supporting distressed businesses particularly it’s ₦10 billion credit facility for SMEs through the Bank of Industry.
He stressing that access to affordable finance was critical to manufacturers and urged manufacturers to use the funds responsibly and repay them to sustain the scheme.
The Chairman said manufacturers were benefiting from improved electricity supply but raised concerns about the ₦241 per kilowatt-hour electricity tariff, urging further engagement to reduce energy costs.
Ekeagbara identified inflation, limited access to foreign exchange and demands from host communities as major challenges that hinder factory expansions and operational activitiesand called for industrial clusters in the three senatorial zones.
In an interview with journalists, the CEO of Libracin Natural Medicine Industry Ltd and MAN member, Dr. Anyatonwu Azubuike, commended Governor Otti for supporting industries and creating a conducive environment for manufacturers in Abia and Imo to produce and export goods, assuring him of the manufacturers’ support.
.
