Abia State Secures Loan Approval, Denies Borrowing Allegations

Abia State Governor Alex Otti has recently revealed that the state government has received approval for a $125 million loan facility from the Islamic Development Bank, as part of its efforts to finance the 2024 budget.

However, he clarified that the funds have not been drawn yet and the necessary documentations are still being completed.

In a media parley, the Governor also addressed the issue of borrowing, stating that the state had received loan offers from several commercial banks but had not accepted any of them.

He emphasized that the state would only obtain loans when necessary and would not rush into any borrowing decisions.

Additionally, Governor Otti debunked rumors that the state had borrowed N144 billion, calling them unfounded and the work of detractors.

He assured residents that the state is financially enlightened and would not draw any loan until it is needed.

Regarding the backlog of pension and workers’ salary arrears, the Governor reiterated his commitment to resolving the issue by the end of March.

He mentioned that approvals had been secured and pensioners would soon receive updates on the matter.

The Governor also addressed concerns about the omission of some workers from salary payments, stating that he would meet with the Accountant General and other relevant officials to resolve the issue.

He explained that the majority of workers now receive their salaries on the 28th day of each month and that efforts are being made to address the concerns of the remaining 5%.

In terms of wage awards, Governor Otti stated that he is awaiting the report of the committee set up for that purpose and will make a pronouncement on the matter as soon as the report is presented to him.

On the issue of sanitation and flooding in the state, the Governor urged residents to refrain from blocking water channels with refuse and warned that enforcement of sanitation laws would soon commence.

He also expressed concern over the drop in reading appetite among the youth and promised to not only digitize the state library but also revive the reading culture in the state.

Finally, Governor Otti mentioned plans to address food insecurity in the state through massive farming initiatives and the distribution of federal government grain consignments as palliatives for the deserving residents.