Governor Alex Otti has paid down ₦90 billion of Abia’s ₦191 billion inherited debt without borrowing, with funds directed to infrastructure, healthcare, and public safety.
Umuahia, Abia State — Abia State Governor Alex Chioma Otti, OFR, has announced significant progress in debt reduction, revealing that his administration has cut down nearly ₦90 billion from the staggering ₦191.2 billion debt inherited from his predecessor, former Governor Okezie Ikpeazu. This reduction, achieved without borrowing additional funds, underscores Governor’s commitment to financial stewardship and transparent governance in the state.
Speaking during the latest monthly media chat, “Dr. Alex Otti Speaks to Abians,” the Governor disclosed the details of the debt profile handed over to him on May 29, 2023. According to the governor, former Governor T.A. Orji had initially passed on a debt of ₦34.2 billion to Ikpeazu. However, within his tenure, Ikpeazu reportedly expanded the debt to an alarming ₦191.2 billion before transferring it to the Otti administration.
The Governor emphasized that despite these substantial financial challenges, his administration has not borrowed “a kobo.” Instead, the government has worked strategically to channel existing resources into critical infrastructure projects, healthcare improvements, educational upgrades, and strengthened security efforts across the state.
“I want to be clear: We’ve reduced Abia’s inherited debt by almost ₦90 billion without borrowing a kobo,” Otti stated. “This progress reflects our determination to manage Abia’s finances responsibly and invest in essential projects that genuinely benefit the people.”
