REPORTER: PEACE AGBO
Abia state government says it has paid full compensation worth 450 million naira to the Managing Director Investment Guarantee Limited, Mr Randy Ukanwoko, the investor at Abia Hotel Limited since October this year.
The Commissioner for Information, Prince Okey Kanu, who announced this while briefing Journalists at the Government House Umuahia on the outcome of this Week’s State Executive Council Meeting presided over by Governor Alex Otti was to address the narratives of misinformation on the social media.
Prince Kanu said the payment of the compensation followed the revocation of the agreement between the state government and Investment Guarantee Limited, the investor at Abia Hotel Limited who had over the years breached every single term of agreement it entered with the state government.
The Commissioner explained that Investor agreed with the state government in 2013 to upgrade the Abia Hotel into a 3 Star Hotel standard within 24 months amongst other terms concluded with the government.
Price Kanu further announced the plans of the State Government to unveil a 25-year development plan which he described as a strategically future-proof document that would articulate the State’s development trajectory for the next 25 years.
According to the Commissioner, the plan will outline the short, medium, and long-term aggregate goals in a sequential progression with the ultimate goal of developing the State in a structured manner, regardless of the administration in power.
Prince Kanu also informed newsmen that the Abia State Material Testing Laboratory is ready for commissioning by the Governor and noted that the operation of the Laboratory would help to address the issue of collapse of private or public buildings in the State.
Contributing the General Manager Umuahia Capital Development Authority, Mr. Kingsley Agomuo said Managing Director Investment Guarantee Limited, Mr Randy Ukanwoko, the investor at Abia Hotel Limited Umuahia contravened every agreement of the Memorandum of Understanding it had signed with the state government in 2013 stressing that another deed of agreement was reached in August 2024 of vacating the premises before the revocation of certificate of Occupancy and demolition of structures at the premises of Abia Hotel.
