The Abia State Government has officially taken ownership of the Aba Mega Mall after resolving long-standing financial disputes with private investors. Governor Alex Otti announced the acquisition during a religious event held at the mall complex, confirming that the state had settled all outstanding obligations to former partners and their financiers.
Key Details of the Acquisition:
- The mall, located along the Enugu–Port Harcourt Expressway, had been inactive since its 2015 commissioning due to ownership disputes.
- Governor Otti emphasized that the takeover was achieved through peaceful negotiations, with the state government paying off all debts owed to investors and financial institutions, including First City Monument Bank (FCMB).
- Greenfield Assets Limited, the original developer, commended the governor for intervening to revive the stalled project.
Next Steps:
The state government plans to revitalize the mall as a commercial hub to stimulate economic activity in Aba. Governor Otti assured residents that significant transformations would be visible within months.
This move aligns with Otti’s broader agenda to attract investment and reposition Abia as a business-friendly state. The resolution also marks a win for public-private partnership transparency, as the government avoided forceful acquisition in favor of negotiated settlements.
