Bank Proposes Capital Market, IGR Solutions For Abia Development

Stanbic IBTC Holdings Plc is proposing capital‑market instruments and internally generated revenue (IGR) strategies to support Abia State’s economic recovery, the bank’s group chief executive, Chuma Nwokeocha, said during a visit to Governor Alex Otti.

Nwokeocha, who led a management delegation to the governor’s office in Nvosi, said Stanbic IBTC sees “a convergence of value, good governance, purpose, and ambition” under the current administration and wants to partner with the state to mobilise private finance.

He highlighted the bank’s capacity to structure capital‑market solutions and IGR enhancement programs alongside housing finance, SME development, infrastructure financing and agro‑industrial support.

“A strategic partnership with the state would attract more investments, strengthen the economy, and improve the welfare of residents,” Nwokeocha said.

Governor Otti welcomed the bank’s interest and pointed to priority projects where private financing and revenue reforms could play a role, including a planned medical city — for which land has been secured — and a feasibility study for a seaport at Obuaku.

He said the government is open to engagement on infrastructure financing and SME banking, and proposed forming smaller working groups to explore specific proposals.

Otti also thanked the bank for its recent corporate social responsibility work to renovate a state school and encouraged further interventions that boost IGR and development outcomes.