Abia State Government and the Aba Chamber of Commerce, Industry, Mines and Agriculture, ACCIMA, have signed a Memorandum of Understanding (MOU), to revive the abandoned Enyimba International hotel in Aba.
President of ACCIMA, Chief Geoffrey Uzoagbara, who disclosed this during a meeting of the shareholders of the hotel in Aba, stated that the details of the MOU include that the state government will help to attract an investor who can develop the hotel in partnership with the shareholders.
He also disclosed that since the state government sold the hotel to ACCIMA in 1991, the Chamber has been struggling to develop the hotel, but has been frustrated by some bottlenecks.
Uzoagbara stated that people had invested in the hotel through ACCIMA, stressing that the shareholders have met to put the final seal to enable the government and the investors to take over and start developing the hotel.
He said; “The property belongs to ACCIMA. The state government sold it to ACCIMA at a fee. Over the years, the chamber has been struggling to develop the hotel. Successive administrations have come and gone in Abia state. One Governor will come and make one statement and investors will run and that became a challenge.
“But Governor Alex Otti came; we visited and showed him where we are. He developed interest and said that the hotel must be made to work. He engaged the board of directors of the hotel.
“Having seen the sincerity of the Gov. Alex Otti government, whatever the property is worth today has been agreed with the state government. The MOU for the value has been signed. It is not going to be a full- fledged government involvement, but the state and their agencies have to be at the forefront.
“People invested in the hotel through ACCIMA. We are here today to put the final seal so that the government and the investors they have can freely take over and start developing the hotel.”
Also speaking, Chairman of Enyimba International hotel, Sir Leo Ike Okoye, explained that with the signing of the MOU, the shareholders of the hotel have agreed to restructure the company’s shareholding structure for enhanced growth and development.
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Okoye announced that the Enyimba International hotel, Aba, has been valued at N2 billion, adding that the value will be appropriated according to the existing investment of each shareholder and reflected in the new investment vehicle.
He said; “We have agreed that the Abia State government will help us attract an investor who can develop the hotel in partnership with us. The meeting was for the shareholders to confirm their MoU with the Abia State Government.
“This move would revitalize the long abandoned hotel into a five-star hotel beyond its original scope with a conference centre, 250 suite apartments, meeting rooms and other facilities.”
He also disclosed that the hotel which was built by the former governor of Old Imo State, Chief Sam Mbakwe, was incorporated in 1991 to realize the dream of establishing a world class hotel in Aba.
