Stable power creates favourable industrial environment in Aba – Nepal Energies

…as firm expresses interest to partner Abia to revive Afro Beverages

Stable power supply in Aba, the Abia State economic nerve centre, has created a favourable environment for industrial growth, Ngozi Ekeoma, Managing Director, Nepal Energies, has stated.

Aba, the commercial hub of Abia State, now has improved power supply. This comes after the completion of the $800 million 188MW Geometric Power Plant in Osisioma axis of the commercial city.

The plant supply’s power to 9 out of 17 Local Government Areas in Abia State.

Ekeoma, who led a team from Nepal on an official visit to Governor Alex Otti of Abia State, expressed the desire of the company to partner with the State Government to acquire and revive the Afro Beverages, one of the industries currently acquired from the Asset Management Corporation of Nigeria (AMCON), by the Abia State Government.

Ekeoma said that the Nepal Group had also partnered with another firm producing POP cement in Abia, with a current production capacity of about 200 tonnes per day and plans to scale up to 1,500 tonnes within the next 18 months.

She said that her company, which operates in the downstream oil and gas sector, also has interest in non-oil businesses, including a detergent manufacturing plant currently being sited in Ukwa West Local Government Area (LGA) of Abia State.

“We have come to partner with the State to get one of the industries that is in Abia, that is currently owned by Abia State Government.

“We think it’s something that we can revive, revamp, and put back in a state that it should be.

“We are capable of taking over the industry. This is not the first manufacturing plant that we own.

“As we speak, we are already in partnership with another company producing POP cement in Aba.

“We are currently building our detergent plant, a 4-ton per hour detergent plant in Ụkwa West. It should start producing before the end of the year,” Ekeoma explained.

Responding, Governor Alex Otti, reiterated his resolve to partner only competent companies in the management of moribund industries acquired by the State.

Governor Otti, explained that the capacity and competence of any prospective investor would be a major factor that would be considered in selecting partners to manage moribund industries recently re-acquired by the Abia State Government.

The governor, who noted that the State Government is meticulous in selecting investors in order to avoid a repeat of past experiences, where industries were revived only to collapse again, explained that the State Government did not acquire the industries to run them directly, but to revive them and hand them over to competent private sector to manage.

“The reason for the acquisition is not for us to go in and run it, as a government, we know where our limits are.

“It would be a disaster after the original visionaries set it up, passed it on, and then it is ran aground, and we rescued it, and somebody else comes and runs it aground again.

“So, that is why we are meticulous, and we are careful in bringing investors into those organisations.

“It must be people, who have the capacity, who have the capital, the competence, the skills to run them. So, for us, what would be very critical is the capacity to manage,” Governor Otti stated.

Governor Otti said that the revival of those industries are aimed at creating job opportunities, saying that unemployment is a major driver of crime and criminality.

The State Chief Executive, however, commended Nepal Energies for initiating an industrial project in Ukwa West LGA, as well as their involvement in the Plaster Of Paris (POP) Cement production in Aba, with plans to scale up production from 200 tonnes to 1,500 tonnes.