Abia State Governor Alex Otti has approved the takeover of Afro Beverages by NEPAL Energies Limited in a strategic move to revive the company and boost the state’s economy.
Afro Beverages, located in Aba, was recently acquired by the state government from the Asset Management Corporation of Nigeria as part of efforts to resuscitate struggling industries.
Private Sector to Drive Growth
Governor Alex Otti made it clear that the state has no intention of running the business directly. Instead, the focus is on handing operations to capable private investors who can ensure efficiency, profitability, and sustainability.
He expressed confidence in NEPAL Energies’ ability to manage and revive the facility, noting that the goal is to create jobs, improve productivity, and stimulate economic growth across Abia State.
Jobs, GDP Boost at the Core
The partnership is expected to generate employment opportunities and contribute significantly to the state’s Gross Domestic Product (GDP).
According to officials, reviving manufacturing industries like Afro Beverages is key to reducing unemployment and strengthening local production. The move also aligns with broader efforts to reposition Aba as a major industrial hub in Nigeria.
State Retains Minority Stake
Despite handing over operations, the Abia State Government will retain a minority stake of less than 20 percent in the company to protect public interest.
The decision reflects a growing trend of public-private partnerships aimed at revitalizing dormant assets while ensuring long-term economic benefits. If successful, the Afro Beverages deal could serve as a model for similar industrial revival projects across the country.
