There appears to be a lot of excitement around the election of economist and former Diamond Bank MD Alex Otti as the Abia State governor. Let us hope he comes up with several dramatic policies like these 

Ayo Akinfe

[1] Nothing is as responsible for Nigeria's current socio-economic woes as the federal revenue allocation formula. It has made us dependent on one primary commodity, stifled economic growth and inhibited productivity. I am hoping that Governor Otti will initiative the process that will eventually slay this dragon. If by say 2029, Abia State has a gross domestic product (GDP) of $200bn, it has no need whatsoever for the paltry Abuja handouts

[2] Now, three Igbo cities dominate Nigeria's retailing industry - Nnewi with automobile spare parts, Orlu with pharmaceuticals and Abriba with clothing and All these Abriba clothing and footwear retailers operate out of Aba in Abia State. I am expecting Governor Otti  to come up with a public private partnership (PPP) plan that will create the world's largest clothing and footwear manufacturing plants in Aba.

[3] I envisage the Abia State government owning about a 25% stake in the venture. We should be looking at a company that competes with the likes of Bata, Adidas, Dior, Hermes, Nike, etc globally 

[4] Nike currently has a turnover of about $39bn. Why should we not have a genuine multinational manufacturer in Aba, maybe call it Isuagu Enterprises and aim to have a minimum annual turnover of about $10bn

[5] At the moment, Innoson Motors in Nnewi is the only company in Nigeria that can mass-produce industrial goods. Governor Otti  has to provide it with tax-breaks and government patronage, enabling it to diversify into other areas and open plants in cities like Umuahia, Ohafia, Arochukwu and Aba

[6] Making industrialisation his watchword, Governor Otto should aim to woo manufacturers operating in key sectors such as boat and ship making, aircraft parts manufacturing, armament production, agricultural equipment like tractors, medical equipment like ventilators, electrical equipment like transformers, motorcycles and bicycles, consumer electronic goods like fridges, freezers and washing machines, railway carriages and engines and communication equipment like mobile phones, laptops, iPads and desktop computers

[7] Governor Otti  should also press the Nigerian Governors Forum to pass laws compelling their states to buy Isuagu Enterprises products. If we want the company to compete, it needs deep pockets, which means government patronage. This was the approach adopted in Japan with Toyota, Mitsubishi and Nissan and in the US with General Motors, Ford and Chrysler

[8] Governor Otti should also get the Abia State University in Uturu to start offering City & Guild, OND or even a HND qualifications in retailing. In my opinion, retailers have been trained in a profession

[9] Onitsha market is the largest in sub-Saharan Africa. We need to see another city built up to share the pressure. Maybe build somewhere like Isiala Oboro in Abia State into a purpose-built city as we did with Abuja 

[10] Why is there no Igbo food company that manufactures readymade cuisines like Ofe Oha, Ofe Onugbu, Ofe Nsala, Ngwongwor, Isi Ewu, etc? Abia State government can take out say a 25% stake in such a company called maybe Ofe Nmanu Enterprises and get it to operate at the level of say Kellogg, Heinz, Cadbury, Nestle, etc