News
Governor Otti Approves NEPAL Energies’ Takeover Of Afro Beverages
Governor Alex Otti of Abia State has given approval for NEPAL Energies Ltd. to take over and manage Afro Beverages, Aba.
Afro Beverages is one of the companies the state government recently acquired from Asset Management Corporation of Nigeria (AMCON).
Governor Otti gave his approval in principle when he received a delegation from NEPAL Energies led by the Chief Executive Officer of the company, Dr. Mrs. Ngozi Ekeoma, saying he was confident the firm has the capacity to run Afro Beverages.
The governor explained that in acquiring Afro Beverages, his government had no plan to run the company but to hand it over to the private sector for effective management, job creation, and increased Gross Domestic Products (GDP).
“We don’t even want to run any business. We want to create an environment for businesses to run, make money, create jobs, improve GDP and reduce poverty,” he said, adding, “Profitability is the last thing that we think about.”
The governor said the state would retain a minority stake of not more than 20 percent in Afro Beverages.
Earlier, the NEPAL Energies CEO, Dr. Ngozi Ekeoma, had told the governor that the management team came to present a proposal for the final take-over of Afro Beverages Company.
Mrs. Ekeoma thanked Governor Otti for providing conducive environment that has made Abia a preferred investment destination.
The Deputy Governor Ikechukwu Emetu, Secretary to the State Government, Dr. Emmanuel Meribeole, Chief of Staff to the Governor, Pastor Caleb Ajagba, Commissioner for Industries and SMEs, Mazi Mike Akpara, and Director General, Strategic Communication Bureau, Barr. Onyebuchi Ememanka, among other government appointees, were present at the meeting.
