By Steve Oko

The recent inauguration of the Abia Global Economic Advisory Council by Gov. Alex Otti, has signaled a new beginning for the state. The quality and caliber of the membership of the 19-member Council leaves no one in doubt that the state is truly in for a serious business.

With the trio of the former Governor of the Central Bank of Nigeria, CBN Khalifa Sanusi Lamido Sanusi; former Director General of the Nigeria Exchange Commission, Ms Arunma Oteh; and an investment expert, Bolaji Balogun, as co-chairs, the Council is naturally bound to deliver.

Other global players including former Minister for Finance and the incumbent  Director General of the World Trade Organization, Dr Ngozi Okonjo-Iweala;  and the President and Chairman of Board of Directors of Afrexim Bank,  Dr Benedict Oramah, are also members of the team although as Honourary Advisors. Some other accomplished personalities like the former National President of Institute of Chartered Accountants of Nigeria, ICAN, Chief Chidi Ajegbu; Victor Onyenkpa,  Mrs Ifueko Omoigui Okauru, Dr Olugbenga Adesida, Prof. Ndubuisi Ekekwe, Mazi Clement Owunna, among other accomplished gurus made the list.

Interestingly, five members of the State Executive Council including Gov. Otti himself are also on board. The other Exco members include the Attorney-General and Commissioner for Justice, Mr Ikechukwu Uwanna; Commissioner for Budget and Planning, Mr Kingsley Anosike; Commissioner for Finance, Mr Michael Akpara; and  Commissioner for Trade, Commerce and Industry, Dr Chimezie Isaac Ukaegbu.

The inauguration attracted the presence of eminent Abians and elder statesmen including two-time Minister of Finance, Kalu Idika Kalu; and Gen. Ike Nwachukwu (retd.),  some of who had before now, kept their distance from the leadership of the state ostensibly for lack of vision and focus.

In his motivational speech at the inauguration entitled:”A New Frontier of Excellence, From Vision to Execution”, Gov. Otti, in clear terms, told the Council his expectations. According to him, he needs a development road -map and  an economic blue print that would help transform Abia into a major industrial hub and a preferred destination for investors.

Otti rightly described the Council as “an excellent team of world class scholars, pathfinders, economic influencers, policymakers, visionaries and leaders in diverse fields of human endeavour.”

On their mandate, Otti declared:”You are brought together to guide us in furtherance of our vision to turn our State into a favourite destination for all categories of investments leveraging on the many opportunities that abound in our land, including agro-friendly environment, steady supply of skilled and unskilled labour, tax friendly regime, nearness to regional and global markets, a business-supportive government and abundance of varieties of in-demand raw materials.”

He expressed strong confidence in the ability of the team to deliver considering their individual antecedents, experiences, capacities and global contacts.

“We are very excited by the knowledge that this team can achieve so much for the present and future generation. Everyone here has been selected on the back of a stellar record of excellence in diverse fields relevant to the accomplishment of the tasks at hand. The mere fact of your presence or membership of this Council has already sent a strong signal to interested observers that Abia is poised to become the next big thing.”

“The quality of the individuals we have in this Council speaks to our vision. We want to make our state economically viable, create wealth for genuine businessmen and women and expand the frontiers of opportunities for our youth population. We are a government that is committed to leveraging the opportunities available to it to do things in new ways.”

As the Governor aptly submitted,  with the convivial business atmosphere and necessary infrastructure on ground, the state would no longer have to woo investors as they would naturally be attracted. “You don’t need to travel round the world in the hunt for investors; if the critical enterprise-supporting systems are in place, astute businessmen and women would need no further invitation”, Otti said.

Worthy of note, is the Governor’s open admittance that he is not a repository of knowledge but would depend on wise counsels from the Council to move Abia forward. Yes, an ex-banker with enormous experience Otti as Governor still needs well-researched inputs from other experts to make a mark.

“We want to admit that as a government, we do not know it all. That is why we are seeking guidance and advise from those who know better. You have excelled in similar tasks in different environments.

“You already know what we want to accomplish: making Abia a preferred investment destination for global businesses. Your job as members of this Council is to work closely with the State Government to create practical ways of moving from the vision board to the field of execution, providing intelligent answers to questions around how we can open up the state to those seeking to put their money in an environment where steady returns are assured; in ways that profit the investors themselves, the local economy and ultimately, impact the long term economic prospects of the State. “

 The Governor further emphasized that his ultimate goal was to re-invent Abia and make it a robust enterprise ecosystem with clear pathways to bigger global and regional markets. “We are keen to transform our traditional agro-economy to become a major player in the global agricultural value chain, producing sufficient output to feed the local population and then for export. We did it in the 1950s and early 1960s with crude technology and under-developed supply chain; I believe we can do even better in the 21st century with all the amazing opportunities it promises. “

Expectations:

Considering the cream of membership of the Council, it is therefore, expected that in the coming weeks and  months, they would have hit the ground running. They should see the need to go beyond the usual jamboree, and come up with implementable strategies and blue-print that will help launch Aba the commercial nerve centre of the state into the global economic map. The fact remains that if the ingenuity of Aba artisans were properly harnessed, and encouraged, the Enyimba City alone can generate the revenue upon which the entire state can effectively run.

It must be recognized that the immediate-past administration of Gov. Okezie Ikpeazu, made some appreciable efforts in promoting made-in-Aba products. Therefore, the Council should explore ways of consolidating and improving on the gains of those efforts.

It is also expected that the Council should boldly make recommendations that are devoid of any political colourations. They should not shy away from recommending the necessary infrastructural developments and siting of needed companies in different parts of the state based on their comparative advantages.

Perhaps the remark by Sanusi that he is bold enough to look the Governor in the eye and tell him the bitter truth without fear or favour, should be trusted. Similarly, the submissions by the duo of Gen. Nwachukwu, and Idika Kalu, that the Governor must commit to implement the advice of the Council, are commendable. The elder statesmen bluntly reminded Otti that it made no sense to assembly such a formidable team if he had no political will to implement their recommendations.

It is cheering to note that Gov. Otti promptly and publicly committed to do the needful, saying  that he came on board to change the narrative. The Governor is, therefore, not expected to renege on this avowal as a mark of honour and integrity.

Admittedly, Gov. Otti has already made commendable efforts towards rebuilding road infrastructure in the state. Such efforts should be sustained in view of the crucial role of access road in the development of any economy.

Similarly, the on-going efforts to improve on the Ease of Doing Business in the state should be sustained. The new policy by the Government to issue Certificate of Occupancy (CofO) to land property owners within 30 days of application, should be applauded and sustained.

More efforts should equally be made to eliminate the monster of multiple taxation. Government should  not relent in its dogged fight against touting and illegal revenue agents. Every anti-investment activity whether by state or non-state actors should be discouraged if the dream to make Abia a preferred destination for investors will be realised.

The Council should also firm up strategies on how to realise the Abia Integrated Industrial Park, AIIP, Owazza Ukwa West Local Government Area,  which Otti performed the ground-breaking ceremony in September 2023. The laudable project which houses modular refinery and many companies should not be allowed to go the way of Enyimba Economic City over-promoted by the Ikpeazu administration but never saw the light of day.

Restoration of missed opportunities:

It is hoped that with this move lost opportunities in the state would be restored. “A new dawn is before us. As a Government, we are committed to reclaiming the missed opportunities of yesterday while positioning our State strategically for the promises of the future. We are not just determined to set new standards in leadership, we want to demonstrate that like our peers in Asia and in other parts of the world, we have what it takes to do great things”.

Prospects:

Just like Otti remarked, Abians “are optimistic that in no time, major fashion brands, big techs and globally renowned manufacturing giants would start setting up plants in different parts of Abia because we have special advantages that can match, or even surpass, what you find in other places including effective, community-driven security, committed workforce and easy access to existing and new markets.”

Meanwhile, the success of the Council will ultimately be measured by the quality of implementable blue-prints it is able to churn out in the months ahead, and definitely not by the intimidating resume of its membership. Abia State adjuged the highest beneficiary of “the Obi wave” in the 2023 general elections, is expected to be the shining light in the search for a better Nigeria.