Abia Secures $125 Million Loan to Execute 2024 Budget Plans

Governor Alex Otti of Abia State
Governor Alex Otti of Abia StateGoogle

Governor of Abia State, Alex Otti, has disclosed that the state government is set to secure loans for the execution of the 2024 Budget, mentioning that the Islamic Development Bank has already approved $125 million for the state.

During a chat with journalists in Umuahia, Otti disclosed on Monday that the African Development Bank has approved funds for the state.

The governor mentioned that two days prior, the Islamic Development Bank sanctioned $125m for his administration under AB Seed, along with the African Development Bank, AfDB. He also mentioned that they have received offers of loan from commercial banks, but none have been utilized.

On wage awards or salary increase, the governor made it clear to workers that his administration had not backed out of its commitment, emphasizing the presence of a dedicated committee.

According to him, the local government accounts are not tampered with, as Mayors are grading roads and building health centres. I am unsure where else they are obtaining the money from.

On infrastructure, the governor assured that Abia will continue its extensive road rehabilitation, lighting up the state, improving the health system, and reviving the education sector. He also mentioned the earmarking of 170 primary schools and 51 secondary schools for rehabilitation to ensure full restoration of all schools by the year's end.

He stated that the state government has formulated the best models for Abia schools in order to achieve a certain appearance for Abia standard schools. Trained teachers will educate students on the significance of the internet, renewable energy, and digital technology, among other topics, to make Abia students competitive in line with global practices.

He also emphasized that the state government would ensure the quality and skills required to educate the students by providing the right training for the teachers, mentioning "We have received considerable support from multilateral agencies."

On health, he said, “We will continue to improve healthcare delivery in the state”, stating also that in terms of food security, the state has a lot of initiatives to deal with hunger and is working round the clock to ensure that all lands in Abia will be cultivated this planting season.

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