Investment in Energy Development will Boost Economy—Otti
Gov. Alex Otti of Abia has charged the Board and Management of the South East Development Commission (SEDC) to invest in the development of affordable and renewable energy sources to improve the region’s economy.
The call is contained in a statement issued by his Chief Press Secretary, Mr Ukoha Njoku, on Tuesday in Umuahia.
He quoted the governor as making the call when he received a delegation of the commission’s board at his home in Umuehim, Nvosi in Isiala Ngwa South Local Government Area of the state.
“These are the kind of investments that the government should make to stabilise the economy. If the government does not stabilise the economy, it cannot deal with unemployment and poverty.
“You are the regional development body speaking for all of us; an area that is so critical to us, a major area to pay attention is electricity.” he said.
Otti said power was critical to virtually every effort towards industrialisation and manufacturing.
“So, if you solve that problem, you would have probably solved 60 per cent of our problems.” Otti said.
The governor said that he supported and assisted Geometric Power Aba Limited (GPAL) as part of his commitment to support small and Medium Enterprises and industrialisation of the state.
He further said that the state was discussing with Interstate Electrics Limited taking over its equity in Enugu Electricity Distribution Company (EEDC). Otti said the move would enable the government to facilitate the provision of power to other parts of the state where GPAL did not cover.
Earlier, the chairman of the commission, Dr Emeka Wogu, appreciated the commitment of the the state government to developing the state. He said his commitment was evident in many completed and ongoing projects across Abia.
Wogu said the commission had the mandate to deal with the developmental challenges facing states in the south-eastern part of the country. He pledged the commitment of the commission to support the efforts of the governor in bridging the development gaps caused by years of neglect.
The Managing Director and Chief Executive Officer of SEDC, Dr Mark Okoye, said the commission was mandated to restore South East economy to its thriving pre-civil war era. Naira Plunges as Offshore Demand Eclipses FX Inflows
