BUA Group has called on Nigerian state governments to step up competition for private capital by creating the infrastructure, regulatory environment and policy stability required to give investors confidence in committing funds to long-term projects.
The conglomerate said state governments could no longer depend predominantly on public expenditure to stimulate economic growth, stressing that stronger partnerships with the private sector were essential to attracting investment, expanding domestic production and generating sustainable employment.
The call was made by the Managing Director of BUA Foods Plc, Ayodele Abioye, at the 2026 Nigerian-British Chamber of Commerce (NBCC) Meet the Governor Series in Lagos.
The event, which had BUA Group as Lead Sponsor, featured the Governor of Abia State, Dr Alex Chioma Otti, who presented his administration’s investment and economic transformation agenda to an audience of policymakers, investors and business executives.
With the theme, “Repositioning Abia for Enterprise, Industrialisation and Sustainable Economic Growth,” the forum focused on the measures states must adopt to become more attractive destinations for domestic and international investment.
Speaking on behalf of BUA Group Founder and Executive Chairman, Abdul Samad Rabiu, Abioye said subnational governments had assumed a pivotal role in Nigeria’s efforts to deepen industrialisation, attract capital and create jobs.
“Subnational governments are critical to Nigeria’s economic transformation. They are important drivers of infrastructure development, industrial growth, investment attraction and job creation,” he said.
He noted, however, that government ambition alone would not be sufficient to attract investors, particularly at a time when businesses were increasingly scrutinising the operating environment before committing capital.
According to him, investors require confidence that policies will remain stable, regulations will be predictable and the basic infrastructure needed to operate businesses will be available.
“For investors, however, ambition must be matched by the right environment. Transparency, policy consistency, regulatory certainty, security and infrastructure all matter when businesses are making long-term investment decisions,” Abioye said.
He said the principles had informed BUA Group’s investments and expansion across Nigeria, adding that private capital could play a significantly greater role in transforming state economies if governments established conditions capable of reducing investment risks.
“At BUA Group, we firmly believe that sustainable economic development is driven by enterprise, innovation and strategic private-sector participation. This conviction continues to guide our investments and collaborations across Nigeria,” he said.
Abioye commended the Abia State Government for placing infrastructure development, enterprise and institutional reforms at the centre of its economic agenda.
He said the discussion around Abia’s development strategy was relevant beyond the state, stressing that successful collaboration between government and business must ultimately produce tangible economic outcomes.
For BUA, he said, public-private engagement should translate into investments that boost local production, strengthen value chains, create jobs and expand economic activity.
Abia Open for Business, Otti Declares
Governor Otti used the forum to position Abia as an emerging investment destination, declaring that “Abia is open for business.”
He outlined investment opportunities across a broad range of sectors, including agribusiness and agro-processing, manufacturing, trade, the creative and digital economy, small and medium-sized enterprises, inclusive finance and diaspora investment.
Otti said his administration was deliberately directing public resources towards infrastructure in an effort to create the conditions necessary for private businesses to invest and expand.
According to the governor, 80 per cent of Abia’s N1.016 trillion 2026 budget had been earmarked for capital expenditure.
“Enterprise needs infrastructure. Roads move goods, light creates safety, and movement creates commerce. Abia is building the physical platform for investments,” Otti said.
He identified livestock and dairy production, cashew and cocoa, rubber processing, garment manufacturing, ceramics, leather and tannery operations, healthcare, tourism, power, transportation and logistics as some of the sectors with significant investment potential in the state.
The governor’s presentation placed particular emphasis on using infrastructure and institutional reforms to unlock the state’s longstanding entrepreneurial base, while attracting new investors and expanding opportunities for existing businesses.
NBCC Seeks Predictable Business Environment
President and Chairman of the Council of the NBCC, Prince Abimbola Olashore, said Abia already possessed an important advantage in its entrepreneurial culture, particularly through Aba’s long-established reputation for trade, manufacturing and indigenous enterprise.
He said the state could leverage that foundation to achieve broader economic expansion, but cautioned that entrepreneurs and investors needed more than market opportunities to commit capital.
According to Olashore, predictable government policies, responsive institutions, adequate infrastructure, security and access to markets remained critical to creating an environment in which businesses could thrive.
He described government and the private sector as complementary partners, rather than competing forces, in the effort to generate sustainable economic value.
The event brought together the British Deputy High Commissioner, Jonny Baxter; Professor of Economics at Lagos Business School, Prof Bongo Adi; senior government officials, investors and business leaders.
BUA Group’s sponsorship of the NBCC Meet the Governor Series further underscores its support for platforms that promote direct engagement among government, investors and the organised private sector.
The discussions at the forum highlighted a broader challenge confronting Nigeria’s subnational economies: the need to move beyond reliance on public spending and build investment ecosystems capable of attracting and retaining private capital.
For states seeking to accelerate industrialisation, the message from the business community was clear—investment will increasingly gravitate towards jurisdictions that can offer reliable infrastructure, stable policies, effective institutions and the regulatory certainty required to plan for the long term.