Numerical Mix-Up: Did Abia Attract $159m or $150.9m or $150.09m FDI Under Alex Otti?
Shortly after a media parley held by the Abia State Government on November 8, reports about the promises and statements made by Governor Alex Otti were published in newspapers and on social media.
The headlines from the event focused on his claims about the state’s debt and Foreign Direct Investments (FDI) since he took office in May 2023.
According to reports from blogs and newspapers here, here, and here, the governor claimed that Abia had attracted $159 million in FDI.
Newspapers such as Tribune and Vanguard published the $159 million figure and attributed it to the governor.
CLAIM: Governor Otti said that Abia had recorded an FDI of $159 million between June 2023 and June 2024.
VERIFICATION: The cross-checked the published capital importation reports from the NBS to calculate the actual FDI Abia attracted between Q2 2023 and Q2 2024.
The state only recorded FDI in Q3 2023, with $150.09 million. Since then, there have been no new FDI inflows.
The reported figure was about $9 million more than the actual amount Abia attracted during this period, per the National Bureau of Statistics’ quarterly capital importation report.
The press also reviewed the figures Governor Otti shared during the media parley, which was posted by the an online News platform
In the recorded version of the parley, the governor had stated that Abia attracted $150.9 million in FDI during the period in question.
“The National Bureau of Statistics published a report showing our state moved from Number 27 in FDI rankings to Number 3, right behind Lagos and Abuja (FCT). And from June 2023 to June 2024, our state attracted almost $151 million — $150.9 million to be exact — placing us third,” Otti said during the parley.
CONCLUSION: Governor Otti was misquoted in the reports that circulated afterwards.
He didn’t claim that Abia attracted $159 million. Also, while the governor mentioned $150.9 million, the actual figure recorded by the NBS is $150.09 million.
VERDICT: The claim that Abia attracted FDI of $159 million is false. Similarly, reports stating the governor quoted $150.9 million are misleading.
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