Abia Governor Otti: We’ve Cleared N90 Billion of Inherited N191 Billion Debt Without Borrowing

Confidence UbaniNovember 8, 20241 Mins read251

Governor Alex Otti of Abia State reported that his administration cleared N90 billion of the N191 billion debt inherited in May 2023 without borrowing. At a Thursday media briefing in Umuahia, he said this was achieved through careful resource management. The funds have also covered infrastructure projects, salaries, and pensions.

Otti added that Abia attracted $159 million in foreign direct investment between June 2023 and June 2024. This reportedly moved the state from 27th to 3rd in national investment rankings. He credited this to improved infrastructure and a business-friendly environment that has drawn investors from countries like Italy, Turkey, and the United States.

The governor noted that his administration is focused on agriculture and has funded 300 Abians to study modern farming in Nasarawa State. He also announced the formation of the Greater Ohafia Development Commission to support balanced growth across districts. This is expected to complement development agencies already set up for Aba and Umuahia.

On road infrastructure, Otti detailed ongoing projects, including expanding the Onuimo Bridge-Abia Tower road and multiple other routes. He said Julius Berger will complete the Port Harcourt Road project in Aba by February 2025.

Along with the N191 billion debt, Otti’s administration is also confronted with issues from the previous government’s financial mismanagement. Recently, a major point of contention was the alleged N10 billion allocated for a nonexistent airport project, as revealed in a forensic audit by KPMG. Governor Otti accused former Governor Okezie Ikpeazu of transferring the funds through 32 company accounts just before seeking State House of Assembly approval. Initially, Ikpeazu’s camp denied the allegations but later claimed the funds were redirected to road projects. In response, Otti demanded either the completion of the promised airport or the return of the funds to the state treasury.

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