Gov Otti’s Revocation of Two Private Investors' CoOs in First Year Raises Concerns of Losing Potential Investors | #NwokeukwuMascot


Governor Otti's Revocation of Certificates of Occupancy Raises Concerns Among Abia State Investors | #NwokeukwuMascot 

 Alex Chioma Otti 
In a controversial move, the Abia State Government, led by Governor Alex Otti, has revoked the Certificates of Occupancy (CoO) of two significant properties in his first year in office. These actions have sparked debate about the potential impact on private investment in the state.

The revocation of TradeMore Event Center, a multi-million naira property located at Okpara Square in Umuahia. Owned by Engr. Emmanuel Mbaka, an indigene of Isikwuato, the property consists of a mini estate and a massive hall-like structure. However. The state government raised concerns about the suitability of the estate for its city center location and the inefficient use of the land. Engr. Mbaka has expressed his displeasure with the decision and is reportedly seeking intervention from influential figures in the state.

The second significant revocation pertains to the Enyimba Economic City project, a high-profile investment valued at over 50 billion naira, with the Muhammadu Buhari led federal government investing over 20 billion naira. Associated with Dan Uzu, an indigene of Isialangwa South, the project aimed to transform the economic landscape of the state. It is rumored that the major investor, Dan Uzu, did not support the candidacy of Governor Alex Otti, which allegedly led to the revocation.

These actions by Governor Otti have elicited mixed reactions from the public and stakeholders. Supporters argue that the revocations are necessary for proper urban planning and land use, which are essential for sustainable development. Critics, however, warn that such decisions could deter potential investors, undermining efforts to attract private investment and boost the state's economy.

Governor Otti has been actively courting private investors to stimulate economic growth in Abia State. However, these revocations highlight the delicate balance between enforcing regulatory measures and fostering a conducive environment for investment. The outcome of these actions will likely influence the perception of Abia State's investment climate in the near future.

As the situation unfolds, the response of the state government and its ability to manage investor relations will be crucial in determining the long-term impact on Abia State's economic prospects.


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