Abia State Governor, Alex Otti, has announced the securing of $125 million loan from the Islamic Development Bank to facilitate the implementation of the state’s 2024 budget.
This is as a result of the state government’s plans for infrastructure and education upgrades, aimed at enhancing the overall development landscape of Abia.
Governor Otti revealed the loan approval during a recent engagement with journalists in Umuahia, the state capital. Additionally, he disclosed that the African Development Bank has also sanctioned funds to support various initiatives in the state.
“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,” Governor Otti stated, emphasizing the state’s cautious approach towards financial management.
The governor reassured workers of his administration’s commitment to addressing wage awards and salary increases, stating the establishment of a committee to oversee the matter. Furthermore, plans are underway to resolve lingering pension issues, with assurances that pensioners will soon be settled.
Governor Otti also outlined the state’s focus on extensive road rehabilitation, illumination projects, and improvements in the healthcare system. Moreover, a comprehensive plan for the rehabilitation of primary and secondary schools has been earmarked, with the aim of elevating the standard of education in Abia.
“We have designed the best models for Abia schools so that the Abia standard schools will look a certain way,” Governor Otti affirmed, underlining the importance of equipping students with skills relevant to the 21st century, including digital technology and renewable energy.
