“How I Paid N90bn Of N191bn Debt Inherited Without Taking Loan”, Gov. Otti

By Akinwale Kasali

Abia State Governor, Alex Otti, has disclosed that he inherited a whopping debt of N191 Billion from his predecessors, and within 15 months, paid N90 Billion out of the debt without borrowing a dime.

Otti made this disclosure at a Media Parley in Umuahia, the State Capital. He added that Abia State has recorded $159 Million Foreign Direct Investment between June 2023 and June 2024 under his administration.

Otti, also, declared that his administration had not borrowed money from any institution so far.

He explained that he had been judiciously deploying the resources of the State for infrastructural development, payment of salaries and pensions, as well as other financial obligations of Government.

Otti said: “I inherited N191.3 billion from my predecessor in May 2023. My predecessor inherited about N35 billion from his predecessor in 2015.

“But today, my administration has paid over N90 billion of the debt we inherited.

“We still pay salaries and pensions every month. And I have not borrowed a kobo from anybody.

“The achievements you see today are a product of prudent management of scarce resources.”

As regards the foreign direct investment, Governor Otti said that Abia had moved from the 27th position to the 3rd position in the States with highest foreign direct investment.

He explained that the efforts of his administration to put in place the necessary infrastructure and other investment-friendly factors, had made Abia a destination for investors.

According to Otti: “We saw the need to lay the foundations upon which investment drives would stand. And that is why a lot of investors are now coming into the state.”

The Governor argued that it does not make sense chasing investors around, submitting that they would naturally come when the needed environment is provided.

“Investors don’t listen to platitudes, they look at actions. Without any campaign, we have had investors coming to set up their investments in Abia.

“Apostle Chibuzor of OPM, the other day, brought a team of investors – one from Italy, another from Turkey and one from the US.

“That’s why we are making sure we make Abia investor-friendly.

“Aka Ikenga Think Tank also came, and we are discussing on how they would set tech hub in Abia. We want our people to come back and invest at home,” Otti noted.