Beyond Commerce, Setting a New Template for Intergenerational Prosperity

By Emma Nwokonna On Aug 9, 2024

Being the Text of a Speech Delivered by Governor Alex C. Otti, OFR, at the Official Flag Off of the Remodelling of Ekeoha Market Aba on Thursday, August 8, 2023

Protocols

We made a firm promise to rebuild Aba, make difficult but necessary decisions and ultimately, set the ball rolling for a new age of prosperity for our hardworking men and women. As we said when we flagged off the reconstruction of Port Harcourt Road in October last year after about thirty years of abandonment and haphazard efforts that yielded nothing but escalated anguish and misery, our race is different because we understand the pain of our people and also appreciate the important sacrifices that must be made to get things right.
Aba, the great Enyimba City, has admittedly not returned to where it once was as a premier destination for dreamers and doers but if you have followed our journey over the last 14 months, you will agree with me that things are changing at a very rapid pace. The gradual restoration of the city’s infrastructure landmarks and the improved sanitary condition of our streets tell very convincing stories of our progress. In the same breath, I have no doubt that in no time, we shall also begin to see the evidence of this wave of transformation in our market environments and trading spaces.
On this note distinguished ladies and gentlemen, let me happily welcome you to the formal flag off of the reconstruction of the very strategic Ekeoha Market, the oldest metropolitan market in the city of Aba. We have gathered this afternoon to be witnesses to history as we launch the first stage of our grand plan to re-make the trade and commerce ecosystem in Aba, and across the entire State.
Aba is known across the world as an important business destination, a strategic trading hub in the West African region and a fertile ground for traditional enterprises. Unfortunately, not much has been done to reposition the city and its trading spaces to meet the dynamic aspirations of the new generation of businesspeople who troop in daily to find the best deals on textiles and clothing materials, shoes and leatherworks, electronics, heavy machineries and parts, and a litany of other products where Aba will beat every other market in West Africa on price, quality and timely delivery.
The time to take the bull by the horn is here and we shall not delay in doing what must be done to expand our advantage as a city of very resourceful traders, artisans and entrepreneurs. The decision to go ahead with this remodelling project is an eloquent testimony to our readiness to make the markets in Aba, 24-hour business hubs with state-of-the-art facilities to ensure the safety and security of the traders and their customers, enable interactions with customers from different parts of the world in real time, and entrench an enterprise culture of borderless transactions on the strength of the infrastructure that shall be put in place at the completion of the remodelling projects.
This project shall be driven by Public-Private Partnership anchored on a robust stakeholder-engagement and consultation framework. The Government’s role in this venture is to protect the interests of the State, the business community within this market, and guarantee that the project is executed in the long-term interest of our people who own shops or do their business here.
The developers on their part will be responsible for the holistic execution of the general and specific elements of the project, interfacing with the Government and other stakeholders to ensure that execution is in tandem with approved structural designs.
Presently, the Government has taken very proactive steps to secure temporary accommodation for the traders who do their day-to-day businesses here. The Government through the State Ministry of Trade and Investments, the Greater Aba Development Authority (GADA) and the Aba North Local Government Area will collaborate with the leadership of Ekeoha Market Traders to manage the relocation process, seeing that the traders can still attend to their customers from the temporary location.
It has to be admitted that the process will come with some inconveniences but as we have learnt through our individual and collective experiences, there are certain sacrifices that must be made for the greater, long term good. My assurance to you is that the Government will do everything within its power to keep things stable while we work very closely with the developers to ensure timely delivery. It must also be noted that this remodeling is going to be in phases to ensure order and minimum difficulty to traders and customers
As a democratic Government, we are bound to listen to your concerns and reasonably address them. In the last few months, we have been engaging with different stakeholder groups within the Market to identify the challenges that are bound to occur over the lifecycle of the remodelling exercise. I am glad that majority of the stakeholders agree with the Government that this project has become very necessary to avert an imminent disaster. We remain eternally grateful to God that the ugly event of July 2023 did not cost lives but we must be careful not to overstretch our luck through unnecessary delays.
One common misconception I must immediately address is the assumption that demolition will happen soon after this flag off. No. This exercise only reinforces the firm resolve of the Abia State Government to remodel Ekeoha Market to a first class facility to meet the dynamic needs of our traders and their expanding customer base. We are interested in the growth and prosperity of our business community and one of the fundamental efforts that must be made in this regard is to make the environment safe, secured and friendly.
To guarantee that this place is not shut down completely at any time over the lifecycle of this project, we have reached an understanding with the developers that the exercise shall be done in phases. When one section of the market is being remodelled, trading activities shall be allowed to continue on other sections. Necessary safety measures shall be put in place to reduce risks of injuries to anyone. While we shall keep our eyes on timely completion of the exercise across the entire spectrum, extra care shall be taken to make sure that the process happens in an orderly and measured fashion.
We are also conscious of the concerns about costs but as a responsible Government, we have also taken proactive steps to ensure that financial leverages are provided to anyone genuinely interested in acquiring a shop, especially the original allotees who shall retain the right of first refusal in the re-allocation process.
It has been agreed that those with the financial resources to pay outrightly for the remodelled shops can go ahead to do so. Provision has also been made for payments on instalments, and to ensure that no one is left behind, the banking partners to the project have also developed structured financial instruments to support others who may not have the wherewithal to immediately fund their procurement dreams.
I am aware that there is discomfort amongst a certain section of traders about the cost of the project and this is understandable in view of the challenging economic realities in the land. At any rate, it is also important for us to understand that the new structures will be much bigger, better and more modern than what we had before now.
The truth is that we are building a modern trading ecosystem that shall offer everything you can ever ask for in a 21st century urban market including steady electricity supply, CCTV cameras to support security activities, a mini clinic and general emergency response centre, fibre optic connectivity for reliable internet access and a digital market hub where wares can be displayed on virtual platforms for customers across the world. The plan is to build a market without borders.
In the light of these, and also taking into consideration the current prices of building materials in the market, the cost of owning these shops will definitely not be at the same rate as what was paid several decades ago. What we can, however, assure you is that the Government shall protect the interests of our people.
For continuing stakeholder engagement, we have set up a Project Management Committee to see that there is process transparency, and guarantee that every party meets its obligation, as well as resolve disputes that may arise from time to time.
As I conclude, let me reassure our investing partners that the Government is 100% committed to the successful completion of this project and shall offer the necessary support to make that happen. Abia is open to investments and in the next few months, we shall consummate other equally important deals with various investors who have identified Abia as one of the safest investment destinations in the region.
It is our desire to drive the holistic turnaround of the State’s economy ecosystem with the support of private investors in ways that guarantee steady return on investments, job creation for our young people and access to new opportunities for dreamers and doers.
What we have started today in Ekeoha is to signpost our readiness to open a new vista in our infrastructure restoration programme. You have seen steady improvements on our roads, the cities are now cleaner and because we have remained faithful to our commitment to pay workers, pensioners and contractors their entitlements as and when due, we are putting money in the hands of our people, increasing their purchasing power and supporting local businesses.
This success of this project requires the active support and cooperation of all stakeholders and I invite you not to withhold it because ultimately, this project shall be in the long term interest of all of us in particular, and the Aba business community in general. Again, let me give my word that nobody will be short-changed because this is our collective project.
Thank you for listening, and may God bless you all.

Dr Alex C. Otti, OFR,
08/08/2024