Governor Alex Otti has granted approval for NEPAL Energies Ltd. to assume control and management of Afro Beverages, as part of efforts to strengthen private sector participation in Abia’s economy.

Afro Beverages is among the enterprises recently acquired by the state government from the Asset Management Corporation of Nigeria.

Speaking while receiving a delegation from NEPAL Energies, led by its Chief Executive Officer, Dr. Ngozi Ekeoma, the governor expressed confidence in the firm’s ability to effectively manage and revitalise the company.

He explained that the state government has no intention of running commercial ventures, but rather seeks to create an enabling environment for businesses to thrive, generate employment, and contribute to economic growth.

According to him, the plan is to hand over such enterprises to capable private investors who can ensure efficiency, profitability, and long-term sustainability. He added that the government would retain a minority equity stake of no more than 20 percent in the company.

Earlier, Dr. Ekeoma stated that her team’s visit was to present a proposal for the final takeover of Afro Beverages. She commended the Otti administration for fostering a business-friendly environment that is attracting investors to the state.

The meeting was attended by top government officials, including Deputy Governor 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 Director General of the Strategic Communication Bureau, Barr. Onyebuchi Ememanka, among others.