Abia State Governor Alex Otti has proudly disclosed that his administration has successfully repaid N90 billion of the N191.2 billion debt it inherited from previous governments within just 15 months, all without incurring any new loans.
During a media briefing in Umuahia, Otti emphasized that his government has not borrowed any funds since taking office.
He highlighted that despite the substantial repayment of debt, his administration has continued to finance essential projects and ensure that regular expenses, such as salaries and pensions, are met consistently.
Otti also noted that Abia State attracted $159 million in foreign direct investments from June 2023 to June 2024, showcasing his commitment to drawing in external financial support.
He credited the state’s financial successes to effective resource management, which has been directed towards infrastructure development, ongoing salaries, pensions, and other state responsibilities.
Otti stated, “When I assumed office in May 2023, I inherited a debt of N191.3 billion from my predecessor, who had inherited about N35 billion in 2015.
“Today, my administration has repaid over N90 billion of that inherited debt. We continue to pay salaries and pensions every month, and I have not borrowed a single kobo from anyone.”
He concluded, “The accomplishments you see today stem from the prudent management of our limited resources.”
