News in brief:
– Governor Otti expresses full support for the multi-million dollar dairy factory project by Blue Ribbon in Abia.
– The project is set to make Abia a leader in livestock investment, with funding efforts from both local and international sources.
A delegation from the Blue Ribbon Company, led by its CEO, Sir Idris Wabara, visited Aba on Sunday to present a progress report on the establishment of a multi-million dollar dairy farm in Abia State.
Governor Otti expresses support and urges timely execution
Governor Alex Otti, along with key state officials including the Commissioner for Agriculture, Dr Cliff Agbaeze, and the Director-General of the Public Private Partnership and Investment Promotion Office, Mr Chinedum Chijioke, attended the meeting with Blue Ribbon executives. The dairy farm proposal was first presented by Blue Ribbon last year, and the Abia State Government gave approval in principle to the project.
However, Governor Otti expressed concern over the delay in the project’s commencement. While acknowledging that such large-scale projects take time, he urged the team to establish clear timelines for execution.
“We know that it will take time, but it’s heart-warming that you are intensively working on it,” Governor Otti said. He further emphasised the importance of setting both short-term and long-term funding plans, noting the need to secure financial backing from local banks while awaiting international funding.
A global effort for funding and feasibility
Sir Idris Wabara outlined the extensive efforts Blue Ribbon had undertaken to secure funding, including engagements with the African Development Bank (AFDB), Afrexim Bank, and investors from Japan. The company also worked with expatriates from Israel to conduct a feasibility study for the project, with the final master plan expected to be concluded soon.
Wabara assured that with the support of the Abia State Government, the dairy project would place Abia at the forefront of livestock investment in Nigeria. He added that the groundbreaking ceremony would be held before the end of the year.
Governor’s commitment to support
In closing, Governor Otti reassured Blue Ribbon of his unwavering support. “If there is anything we can help you with, you can take that for granted,” the Governor stated. He also urged the delegation to proceed with immediate steps to secure short-term funding from local banks to avoid further delays.
The foreign delegation expressed their gratitude for the Governor’s commitment, remarking on the Governor’s dedication even on a Sunday.
This multi-million dollar dairy project, if successfully realised, has the potential to boost Abia’s position as a leader in livestock investment in Nigeria. The project’s success hinges on timely execution, secure funding, and continuous collaboration between the state government and private investors.
