Plans to establish a $145 million solar manufacturing plant in Abia State have recorded a major milestone, with investors reaching the Final Investment Decision (FID) stage and reaffirming their commitment to the project.
The development was disclosed during a meeting between Governor Alex Otti and a delegation of Chinese investors led by Dr Oko Jaja, who said the project reflects growing investor confidence in the state's improving business environment.
The proposed solar manufacturing facility will be located at Umuelele in Isiala Ngwa South Local Government Area and is expected to boost renewable energy production while creating employment opportunities for residents.
Addressing the governor, Dr Jaja said the visit was to brief him on the progress made towards the implementation of the project, adding that the investors, in collaboration with their Chinese partners, had committed about $145 million to the initiative.
He attributed the decision to invest in Abia to the Otti administration's emphasis on infrastructure development, ease of doing business and the protection of investments.
According to him, the first tranche of funding for the project is expected to be released by September 2026, paving the way for the commencement of the next phase of implementation.
Receiving the delegation, Governor Otti welcomed the investment, describing it as another indication that Abia is becoming an attractive destination for local and international businesses.
He said his administration would continue to provide the support required for the successful execution of the project.
"We are pleased that you have reached the Final Investment Decision stage and are committing up to $145 million to this project. We made the land available because we believe in investments that create jobs and stimulate economic growth.
"If there is anything else required to facilitate the project, we are ready to provide the necessary support," the governor said.
Otti noted that beyond the financial value of the investment, the project would contribute to job creation, economic expansion and increased prosperity for the people of the state.
He reaffirmed his administration's commitment to protecting investments and ensuring that businesses operate in a conducive environment.
Also speaking, the Chief Executive Officer of MD Nwakanma Nigeria Limited, Dennis Madu Nwakanma, said the project would be executed through a Public-Private Partnership (PPP) between his company and the Abia State Government.
He explained that the visit by the Chinese technical team formed part of preliminary site assessments ahead of the commencement of construction, which is expected to begin before the end of September.
According to him, the factory will produce solar panels and other renewable energy components while serving as a platform for skills development and technology transfer.
Nwakanma disclosed that the company has already begun training young people in solar installation and related technologies and plans to send selected personnel to China for advanced training in solar manufacturing after the plant becomes operational.
He said the initiative would enhance local technical capacity and establish Abia as a major centre for renewable energy manufacturing in Nigeria.
Senior government officials present at the meeting included the Commissioner for Power and Public Utilities, Engr. Ikechukwu Monday; the Commissioner for Lands, Chaka Chukwumerije; and the Director-General of the Public-Private Partnership Office, among others.
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