Billionaire businessman and founder of Cubana Group, Obinna Iyiegbu, popularly called ‘Obi Cubana’ is planning a mega factory in Abia State.
The billionaire has begun the process of acquiring land to enable him to expand his footprints in Abia.
This was disclosed in a tweet by the State Governor, Alex Otti.
Otti said, “I played host to a renowned business tycoon and investor Obinna Iyiegbu, popularly known as Obi Cubana, and his brother Ike Iyiegbu.
“While he emphasized that he does not visit Governors, he had to visit given our pedigree. He said the positive things we have started doing have made a lot of people want to come back and invest here.
“He promised to set up a major part of his business in Aba as he is already in the process of acquiring land to build industries that will employ people in God’s Own State.”
The tycoon had over the weekend paid a courtesy visit to the Abia governor at his residence in Nvosi, Isialangwa South Local Government Area of the State.
When Otti won the March gubernatorial election, he promised a mega economic reform that would make the state an investors’ haven.
Otti had said he had the influence and goodwill to attract both local and foreign capital into the state.
The Abia economy is estimated at $22.8bn.
Otti had said in an interview that, “Our state ranks 32 out of 36 on the World Bank’s ease of doing business. This shouldn’t be the case. Our state is an industrial hub and should not occupy that position.
“What we plan to do is to open up linkage roads to neighboring Port Harcourt, and to Akwa-Ibom and Imo states. This will enable the industrial cluster to grow.”
Abia State has 51 per cent unemployment rate and a debt of N191.2bn.
Since the assumption of office, Otti has made several policy reforms including tax reforms and reforms aimed at lifting the state out of its current infrastructural challenge.
