Abia Govt Backs Nepal Energies to Take Over Afro Beverages

Abia State Governor, Dr. Alex Otti, has given approval in principle for Nepal Energies Limited to take over and manage Afro Beverages, a company recently acquired by the state government from the Asset Management Corporation of Nigeria (AMCON).

The governor made this known while receiving the Chief Executive Officer of Nepal Energies, Dr. Ngozi Ekeoma, and her team at Government House, Umuahia.

Otti expressed confidence in the company’s capacity to successfully run the business, noting that the state government has no intention of operating the enterprise directly. According to him, the goal is to create an enabling environment for private sector participation, drive economic growth, generate employment, and reduce poverty.

He explained that the government plans to retain only a minority stake of not more than 20 percent in the company, while allowing competent investors to take full charge of operations.

The governor also disclosed that although there had been interest from foreign investors, the state chose to prioritise partnership with Nepal Energies, expressing optimism about the company’s capability.

He further directed the firm to submit a detailed proposal for consideration, after which both parties held a closed-door meeting.

Earlier, Dr. Ekeoma said her team visited to present a proposal for the final takeover of Afro Beverages. She expressed hope that her company would be given the opportunity to manage the business and commended the state government for creating a conducive environment for investment.

The meeting was attended by top government officials, including the Deputy Governor, Engr. Ikechukwu Emetu; Secretary to the State Government, Dr. Emmanuel Meribeole; Chief of Staff, Pastor Caleb Ajagba; Commissioner for Industries and SMEs, Mazi Mike Akpara; and other aides.