Friday, November 8, 2024
Erin Brewer
Alex Otti: "I have paid N90bn out of inherited debt without borrowing"
Abia State Governor Alex Otti revealed that his administration has managed to pay off N90 billion of the N191.2 billion debt left by previous administrations within just 15 months, all without taking on new loans. During a media session in Umuahia on Thursday night, Otti highlighted that his government has not borrowed any funds since coming into office.
Despite the substantial debt repayments, Otti noted that his administration continues to fund essential projects and meet recurring expenses, such as the regular payment of salaries and pensions. He also announced that Abia State attracted $159 million in foreign direct investments between June 2023 and June 2024, showcasing efforts to bring external funding into the state.
He credited these financial accomplishments to prudent resource management, which has allowed for allocations toward infrastructure projects, salaries, pensions, and other state responsibilities.
