THE Abia State Governor, Alex Otti, announced that the state government intends to acquire loans to implement the 2024 Budget.
He mentioned that the Islamic Development Bank has already approved $125 million for the state, with the African Development Bank also providing funds.
The governor said, “Two days ago, the Islamic Development Bank approved the sum of $125m for us under AB Seed, as well as the African Development Bank, AfDB. All is yet to be drawn until after perfection.
“We have received offers of loan from commercial banks, but we have not drawn on any of them. We do not want to draw loans until we need them and will repay when we have liquidity, and we will pay later.”
Otti made these statements during a discussion with newsmen in Umuahia. He emphasized that the loans from commercial banks have not been utilized yet, as the government plans to draw them only when necessary and repay them when liquidity is available.
Regarding wage awards and salary increases, Otti assured workers that the administration remains committed to fulfilling its promises in that regard.
He mentioned the existence of a committee to address pension issues and highlighted resolutions made in an executive council meeting to settle pensioners soon.
Otti outlined plans for infrastructure development, including extensive road rehabilitation, improving the healthcare system, and revamping the education sector.
The governor said, “Abia will continue with our massive road rehabilitation, light up Abia, improvement in the health system and the resolve to retrieve education system that has been going down” adding that the government aims to refurbish 170 primary schools and 51 secondary schools by the year’s end.
The governor emphasized the importance of upgrading Abia schools to meet global standards, with a focus on providing relevant 21st-century education, such as internet literacy, renewable energy, and digital technology, to enhance students’ competitiveness.
Furthermore, Otti stressed the government’s commitment to enhancing healthcare services and ensuring food security through various initiatives aimed at maximizing agricultural productivity in Abia.
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.
