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American Investors To Explore Abia – Ikpeazu

Governor Okezie Ikpeazu said yesterday that some American investors would soon visit the state to explore investment opportunities.

Governor Okezie Ikpeazu said yesterday that some American investors would soon visit the state to explore its investment opportunities.

Speaking with newsmen at the Government House, Umuahia, on his return from the U.S., Ikpeazu said that during the trip, he held discussions on the possibility of establishing a cancer machine factory in the state.

He said that he also spoke with a team of health experts on how to upgrade the existing health facilities in the state to international standard. Ikpeazu said that investors from Philadelphia were also expected in Abia to start the greenhouse technology, the modern trend in agriculture.

He explained further that he had commenced discussions for a partnership between the state and some U.S.-based investors in the education, trade and commerce sectors to move the state forward. He said that the state of Maryland would collaborate with Abia State University, Uturu, to assist the institution in the areas of equipment and facilities. Ikpeazu said that some Abia indigenes were currently studying
how to transfer the technology of shoe-making machines from Turkey to Abia. He said that the road rehabilitation in Aba and Umuahia had been smooth, adding that it had been delayed due to the heavy rains. Crude oil and gas production is a prominent activity, as it contributes to 39% of the GDP.

The manufacturing sector only accounts for 2% of the GDP. The industrial centre of the state is in Aba, with textile manufacturing, pharmaceuticals, soap, plastics, cement, footwear, and cosmetics. In addition to the above, Abia State Government have just built a 9000 capacity multi purpose International Conference Centre in Umuahia.

This edifice of international standard was built by former Governor T.A Orji to enhance tourism as well as boost the State economy through hosting of major International and Local events. Representing 27% of the GDP, agriculture, which employs 70% of the state workforce, is the second economic sector of Abia. With its adequate seasonal rainfall, Abia has much arable land that produces yams, maize, potatoes, rice, cashews, plantains, taro, and cassava.

Oil palm is the most important cash crop. Abia State, which occupies about 5,834 square kilometres, is bounded on the north and northeast by the states of Anambra, Enugu, and Ebonyi. To the west of Abia is Imo State, to the east and southeast are Cross River State and Akwa Ibom State, and to the south is Rivers State. The southern part of the State lies within the riverine part of Nigeria.

It is low-lying tropical rain forest with some oil-palm brush. The southern portion gets heavy rainfall of about 2,400 millimetres (94 in) per year especially intense between the months of April through October. The rest of the State is moderately high plain and wooded savannah. The most important rivers in Abia State are the Imo and Aba Rivers which flow into the Atlantic Ocean through the Niger Delta.

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