Abia State acquires Afro Beverages from AMCON to drive industrial revival, job creation
Government seeks private investors to restart dormant factories in Aba.
NIGERIA – The Abia State Government has finalised the acquisition of Afro Beverages from the Asset Management Corporation of Nigeria (AMCON), marking a significant step in its industrial revival programme.
Afro Beverages is one of five moribund industries identified by the administration for restoration as part of efforts to boost manufacturing output and create employment opportunities across the state.
Speaking at a media briefing, Governor Alex Otti confirmed that the acquisition process had been completed and that the government was already engaging prospective investors to manage the asset.
“The State Government has completed the acquisition of Afro Beverages from Asset Management Corporation of Nigeria and begun receiving expressions of interest from prospective investors. Similar investor interest is being recorded for Star Paper Mill in Owerrinta, because we prefer competent private sector operators to manage the firms sustainably,” he said.
According to the governor, the objective of the takeover is to restore full industrial operations, generate employment and ensure long-term viability under professional management.
The state government had earlier unveiled plans to revive five dormant industries, most of them located in Aba, the state’s commercial hub. The companies include Star Paper Mill, Textile Mills, International Equitable Associates, Afro Beverages and Ogwe Golden Chicken.
The revival initiative forms part of a broader strategy to reposition Aba as a manufacturing centre in southeastern Nigeria. At the start of his administration, Otti announced a policy framework aimed at reactivating abandoned industries to serve as anchors for supply chains and job creation.
Beyond large-scale industrial assets, the government is also strengthening support for small and medium-sized enterprises. The governor disclosed that approval had been granted for the establishment of an SME Village and Innovation Hub in Aba.
He described the project as a centre for productivity, innovation and technology services, including computer and mobile device sales and repairs.
During the initial negotiations for Afro Beverages, the state paid N500 million to facilitate the takeover and revival process.
“The State Government has taken a principled stand to support SMEs in the state, and that land has already been acquired for the project,” Otti said.
The completion of the Afro Beverages acquisition underscores the administration’s focus on asset recovery and industrial reactivation as key drivers of employment and economic growth in Abia State.
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