The Asagba of Asaba has commended renowned entrepreneur and chairman of Cubana Group, Chief Obinna Iyiegbu, for significantly elevating the scale and quality of private sector investment in the Delta State capital, describing his growing footprint as a major boost to the city’s economic transformation.
The monarch gave the commendation when Obi Cubana and members of his team paid a courtesy visit to the Asagba Palace in Asaba, a visit described as one of solidarity, mutual engagement, and shared vision for the future of the city.
Receiving the delegation, the Asagba noted that Obi Cubana’s investments, particularly in real estate, hospitality, and lifestyle infrastructure, are helping to reposition Asaba as a serious destination for both local and international investors.
According to the monarch, “What we are seeing is a deliberate effort to raise the bar of investment in Asaba. These are not just projects; they are statements of confidence in our city and its future. When individuals of this calibre invest at this level, it sends a strong signal that Asaba is ready for greater things.”
He emphasized that such high-impact investments play a critical role in stimulating economic activity, creating jobs, and encouraging further capital inflows into the region. He noted that the ripple effect of large-scale developments extends across multiple sectors, including construction, hospitality, commerce, and services.
The Asagba also used the opportunity to reiterate the readiness of the Asaba community to support entrepreneurs and investors seeking to establish or expand their presence in the city. He assured that traditional institutions remain committed to fostering an enabling environment that encourages business growth and long-term investment.
“We are opening our doors to serious investors. As a community, we are prepared to collaborate and support initiatives that contribute to the development of Asaba. We are not waiting for government alone—there is much we can do collectively to build a thriving economic centre,” he stated.
He further revealed that ongoing engagements with key stakeholders across Nigeria’s corporate and financial sectors have continued to reinforce confidence in Asaba’s economic potential. According to him, discussions with leaders within the Nigerian capital market ecosystem indicate a growing willingness to support structured investments and provide mechanisms that ensure investor confidence and capital safety.
Highlighting the city’s evolving profile, the monarch described Asaba’s hospitality sector as one of the fastest-growing in the country, noting that the city is increasingly becoming competitive with major urban centres.
“At this moment, Asaba’s hospitality industry is second to none. We can confidently compete with Abuja, and in many respects, the only city that stands ahead is Lagos. New developments are emerging, and the city is expanding in both capacity and quality,” he added.
The Asagba also referenced key infrastructure and development initiatives that are shaping the future of the city, including the proposed waterfront project known as “Legacy of the Sun,” which spans over 351 hectares. He noted that such large-scale developments, combined with Asaba’s strategic proximity to Onitsha and its position within the eastern economic corridor, are creating a strong foundation for sustained growth.
Beyond real estate and hospitality, the monarch highlighted ongoing efforts to position Asaba as a technology and innovation hub. He disclosed that discussions with the Federal Ministry of Communications, Innovation, and Digital Economy have yielded encouraging prospects, particularly given the presence of institutions such as the Digital Bridge Institute, Admiralty University in Ibusa, and other emerging tech-driven initiatives within the state.
According to him, the long-term vision is to build a vibrant ecosystem that supports innovation, enterprise, and digital transformation—one that can rival established global models.
Responding, Obi Cubana expressed appreciation for the warm reception and reaffirmed his commitment to contributing to the growth and development of Asaba through sustained investment and strategic projects.
He noted that his ventures, including the Cubana Millennium City and the upcoming Cubana Wonderland project, are designed not only to deliver commercial value but also to create experiences, opportunities, and long-term impact for residents and investors alike.
“Our vision is to build more than businesses; we are building a legacy. We believe in the future of Asaba, and we are committed to playing our part in unlocking its full potential. With the support of the traditional institution and the wider community, we are confident that greater things lie ahead,” he said.
The visit, which underscored the importance of collaboration between traditional leadership and private sector players, is seen by stakeholders as a strong signal of alignment and shared purpose in driving the next phase of Asaba’s growth.
As momentum continues to build, observers note that the convergence of visionary leadership, strategic investment, and community support is steadily transforming Asaba into one of Nigeria’s most promising economic frontiers.