We’ve Cleared Abia’s N138bn Inherited Debt By N72bn Without Fresh Liabilities – Gov Otti

Abia State Governor, Dr. Alex Otti State has announced that his administration has paid off N72 billion of inherited debt since assumption of office without accruing any fresh liabilities.

Governor Otti made the revelation during the April edition of his Monthly Media Parley with journalists in Umuahia, tagged “Governor Otti Speaks To Abians”.

The Governor revealed that the his administration inherited a debt profile of N138 billion in 2023, as reported by the Debt Management Office (DMO).

He said that internal assessments suggest that the actual debt figure may be higher, factoring in unpaid salaries, pensions, and contractor liabilities.

“If you check the numbers, you will find that according to the Debt Management Office, this government inherited a debt profile of 138 million Naira.

“That is according to the DMO in 2023. But according to our numbers, it is a lot more than that. I am sure the DMO did take into account the background of salaries and pensions and of course, other debts, including contractors’ debts”, Gov Otti said.

The Governor who further revealed that the DMO’s latest report, as of December 2024, shows that Abia’s debt profile has been brought down to N66 billion, attributed the feat to fiscal prudence, transparency, and strong governance ethics.

“Again, going by DMO figures, as of December 2024, that number has reduced to 66 billion. By their own numbers, we have paid down 72 billion of inherited debt.

“We have added no dime in borrowing he added.

Governor Otti highlighted that his government has so far operated without incurring new debts, despite embarking on numerous developmental initiatives.

He noted that the current administration has rejected the legacy of financial recklessness which he said characterized previous administrations and assured citizens that the government would continue to ensure every kobo of Abia’s money is accounted for.

“Some people are used to wasting money. This government is a very prudent government. We will continue to be prudent and to ensure that no drop of Abia money is wasted”, the Governor said.

He called on citizens to remain vigilant and cooperative, especially in matters of security, stressing that the full benefits of development can only be enjoyed in a safe and stable environment.

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