Governor Alex Otti Questions Predecessor’s Use of Borrowed Funds in Abia State

Governor Alex Otti of Abia State expressed concerns over the financial condition of the state he inherited from his predecessor, Okezie Ikpeazu. Governor Otti, who was elected on the platform of the Labour Party (LP), revealed that the state was in a “very, very bad shape” when he assumed office in May 2023.

According to the governor, the debt profile of Abia State had increased from N34.4 billion in 2015 to approximately N192.2 billion in 2023.

Despite this significant increase in debt, Governor Otti stated that there was little to show for it in terms of improvements to infrastructure, schools, and hospitals. He also noted that salaries and pensions were not being paid.

Governor Otti questioned the use of these borrowed funds, stating that if he were to take on debt, it would be for “regenerative expenditure,” such as investing in the state and improving the lives of its citizens.

He expressed disappointment that the previous administration had not used the funds for these purposes, but rather for what he described as “consumption.”

As Governor Otti continues to address the financial challenges in Abia State, the situation raises important questions about the use of borrowed funds and the responsibility of elected officials to manage public finances effectively and transparently.

The people of Abia State will be watching closely to see how Governor Otti’s administration tackles these issues and works to improve the state’s financial situation.