The Governor of Abia State, Alex Otti, has announced that his administration will be partnering with private investors for the Abia Stadium City project. Otti disclosed this on Tuesday while meeting with a team of development partners who came to present a master plan for the proposed project.
He explained that his administration has been working on the Stadium project. However, a partnership with the private sector would guarantee the sustainability of the project, even in the coming administrations.
Further, Otti stated that both parties would need to discuss the terms of the partnership and also the details of the project. This included the source of funding, the budget, and the disbursement schedule.
He added that the government is only interested in holding the minimum shares of 10% or 20%, while private investors would own the remaining shares.
The Governor also commended the preliminary studies for its alignment with project goals, including the choice of site for the proposed project. He noted that the Stadium would be located in an easily-accessible area, not far away from the airport under construction.
Read Also: 16-year-old Nigerian teen dies in Ireland River
Meanwhile, the Managing Director, Irish Development Group, Nigel Neely, who led the development partners team, revealed that the stadium would sit on 96 hectares of land in Umuahia. He further explained that the team has designed the project in a way that will reposition Abia as a destination for sports, tourism, business, and recreation.
According to Neely, the proposed Abia Stadium City would feature a stadium and sports zone, a games village, and training facilities. In addition, it would include a residential district offering smart, tech-integrated housing designed to provide modern living spaces for both residents and visitors.
The plan also includes a hospitality and tourism zone with hotels, resorts, and related amenities to enhance the visitor experience and economy.
