Stephen Ukandu, Umuahia
Governor Alex Otti, has received a progress report on the proposed establishment of a Multi-Million Dollar Dairy Farm in Abia State by a delegation of the Blue Ribbon Company led by the Chief Executive Officer (CEO) Sir Idris Wabara, promoters of the project.
Recall that sometime last year, Blue Ribbon came to Abia State Government with a proposal to build a mega Dairy farm in Abia. Governor Otti gave approval in principle and assured them that the State Government would give them all the support it could to enable them set up in Abia.
Speaking after receiving the progress report from the Blue Ribbon delegation, Governor Otti expressed concerns that the commencement of the project had been delayed more than he had expected after the first time they met last year, and he gave approval in principle.
He emphasized the importance of establishing timelines of execution. In his words: “We know that it is something that would take a little bit of time, maybe we were not expecting that it will take one year to still be on the drawing table.
“But then, it is heartwarming that you are intensively on it. Maybe, we need to have a smaller session where you will table exactly what you need so that we can also say what we can do.
“But, most importantly, we need to also establish timelines of delivery.”
Governor Otti advised that while they are approaching credible organizations like the AFDB, Afrexim bank, Japanese investors etc., for funding, who are ready to support them, it was important they begin to make immediate and short-term funding plans from local banks that can provide a guarantee.
He noted that by the time they put all the data and send it to the international financiers, they would take their time to analyze the data, confirm, and go through the approval process to make liquidity available.
He explained that the short-term financial plans would be taken out when the funding from the International organizations finally arrived.
The Governor said such approach would help cut down the cost because the longer you wait, the more expensive the project becomes.
“I don’t know what exactly it is you are looking for, but if there is anything we can help you with, you can take that for granted. My team and I would do everything possible to support you so that the project can take off,” the Governor assured.
Earlier in his speech, Sir Idris Wabara said that they have engaged with the African Development Bank (AFDB), through which they had also engaged with investors from Japan.
He also disclosed that they had equally engaged Afreximbank who had invited them for a meeting in Cairo, all geared towards securing final approval for funding the project.
Speaking further, Sir Wabara said that his team of expatriates from Israel with long-standing experience in the field of dairy and agricultural architecture came to do critical studies for the feasibility study and master plan for the project, which he said would be concluded in Abia the next day and continue with PWC in Lagos for further data capturing.
He added that the groundbreaking would be performed before the end of the year.
Sir Wabara added that, with the support they are expecting from Governor Otti, which they are certain that they would get, the project would place Abia at the top of livestock investment in the country, adding that what they are trying to do has not been done in this part of the country.
The investors thanked the Governor for the warm reception they were given, adding that they were surprised when they were told that the meeting would hold on Sunday and they asked themselves which time the governor uses to rest.
