Abia Seals Major Industry Deal
The Abia State Government has concluded the purchase of Afro Beverages from the Asset Management Corporation of Nigeria, strengthening its push to revive key industries in the state.
The move signals a fresh effort by the administration to restore dormant assets and create jobs.
The acquisition was completed after negotiations with AMCON, which had taken over the company due to past financial challenges. State officials say bringing the firm back under local control will help boost production and attract investors.
Afro Beverages, once a notable player in the manufacturing space, is expected to resume operations under the new arrangement.
The government believes the revival will stimulate economic activity and support small businesses linked to the factory.
The takeover forms part of a wider industrial plan aimed at repositioning Abia as a strong manufacturing hub.
Authorities say more reforms and investments are underway to drive growth and reduce unemployment across the state.
