Asaba is actively enhancing its appeal to investors from Lagos by cultivating a more secure and business-conducive atmosphere, with traditional authorities lending significant support to the state's economic advancement initiatives.
During a recent interview on ARISE News, Chika Ogeah, the Managing Director of Macfolly Hospitality Limited, stated that this investment drive is part of a comprehensive strategy spearheaded by the Asagba of Asaba. This initiative aims to supplement existing government efforts and accelerate economic progress within the city.
Ogeah elaborated on how this approach signifies a fusion of governmental functions with traditional and cultural structures. He emphasized the Asagba's commitment to supporting government actions and aligning community frameworks with state policies to make Asaba a more attractive hub for investment.
A crucial step in bolstering investor trust has been the overhaul of land administration practices in Asaba, an area that previously deterred potential investors. Ogeah explained that these reforms address past issues like land disputes, conflicting ownership claims, and the harassment of developers, effectively rendering them obsolete.
The improved atmosphere has unlocked opportunities across vital sectors, including hospitality, real estate, agribusiness, and energy. Ogeah highlighted that investors now have stronger assurances regarding safety and potential returns, asserting that capital naturally flows to environments offering peace, security, and a guarantee of profitability.
He further underscored Asaba's strategic location, particularly its close proximity to Onitsha, which fosters a robust commercial connection that can drive economic expansion. Ogeah noted that Asaba functions almost as a twin city with Onitsha, creating a powerful synergy, and suggested that advancements in port infrastructure could substantially lower logistical expenses for businesses.
Regarding the hospitality sector, Ogeah indicated that new projects are already in progress to cater to the rising demand. He believes Asaba is ready for a significant increase in high-caliber, globally recognized hotels, and that stakeholders are stepping up to meet this need.
When discussing the outreach to Lagos-based investors, Ogeah explained that the objective is to engage directly with key business figures and highlight the available opportunities in Asaba. The intention is for the community leaders to directly invite Corporate Nigeria to visit Asaba and witness the potential firsthand.
While no specific investment targets have been established, Ogeah reiterated that the primary focus remains on creating an environment that naturally attracts capital. This is to be achieved through better policies, enhanced security, and stronger collaboration among all stakeholders.
By Triumph Ojo
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