Diamond Bank Plc has invested more than N30 billion in a geometric power project in Aba that will generate sustainable power supply for the industrial city all year round.

Alex Otti, group managing director/chief executive officer of the bank, disclosed this in his opening remarks as chairman of the First- Made- in Abia Products Exhibition which opened last week in Umuahia, the Abia state capital.

The theme of the exhibition was promoting made in Abia products for accelerated economic development.

The plant would ensure entrepreneurs in Aba and environs can produce goods at full capacity and at a reduced cost and it will be commissioned before the end of the year. He said: “I’m aware that there are well over 60,000 shoe makers in Aba but they have challenges of producing at full capacity because of irregular supply of electricity”. He added that as soon as the new plant is commissioned, the Power Holding Company of Nigeria (PHCN) would switch off in the area because the new plant would be able to generate sustainable electricity for 365 days yearly.’’

Otti, who commended Abia State Governor, Theodore Orji for the initiative, observed that with this exhibition, ‘Abia has shown itself as a producing state,’ remarking that Rome was not built in a day and that if the exhibition was sustained over time, there would be significant improvement in some of the inventions made by the people.

The GMD said that people used to look down on products from China, Japan and Korea as inferior, but today everything they use in their homes are made in those countries, adding that there is need to encourage and support the enterprising people of Abia to achieve this same feat because no society can develop without production.

He said the best type of trading is value-chain trading, whereby people sell what they produce and not just buying and selling, remarking that it is necessary to encourage entrepreneurs in the state to showcase their products.
In his keynote address, Governor Theodore Orji commended the initiative put together by the office of his wife that culminated in the public-private partnership to holistically address the issue of industrialisation of the state which is also tied to his administration’s legacy projects.

He also commended the Chief of Army Staff, Lt. General Azubike Ihejirika and other well-meaning Nigerians for helping to restore peace to the state and free them from the clutches of kidnappers, armed robbers and other criminals.

The chairman of the exhibition planning committee, Frank Ibe said the idea of the exhibition was conceived by the wife of the executive governor of the state, Mercy Orji in a bid to expose the economic potentials of the state to the global economy for patronage.

The state commissioner for Commerce and Industry Sampson Orji commended the exhibition planning committee for putting together necessary machinery that has ensured the success of the exhibition.
He also commended the state governor for addressing the security challenges which marked the state as a safe haven for investment.

http://www.businessdayonline.com/NG/index.php/markets/companies-and-market/52360-diamond-bank-invests-n30bn-in-aba-power-plant

the outcome is what i'm interested in. This is not the first N30b to be spent since independence.

bia lord naya how owerri after that impeachment saga?i hope say no kata kata there lol.

asha 80: bia lord naya how owerri after that impeachment saga?i hope say no kata kata there lol.

I'll definitely visit Owerri next weekend and interview Keke drivers.

Abagworo:

I'll definitely visit Owerri next weekend and interview Keke drivers.

Abagworo:

I'll definitely visit Owerri next weekend and interview Keke drivers.

hehe e be like say those guys na the new ogas in town.

asha 80: ;Dhehe e be like say those guys na the new ogas in town.

They've taken the place of Okada men as "Oga on top" in street political gossip.

@ABAGWORO PLEASE INFORM US OF THE PACE AND STAGE OF CONSTRUCTION ACTIVITIES IN IMO STATE WITH PICTURES WHEN YOU VISIT. ALSO, I WOULD LIKE TO KNOW THE PROGRESS REPORT ON OGUTA BLUELAKE OF TREASURE. @ Asha, I am not in Imo state but i know there is peace, although i smell foul play in the impeachment saga.

@lord naya no problem.as for this power plant i thought it was supposed to start firing from first quarter of this year?

all these major always moving to the east and the south south...why?