@GSKE2009@Waspapping_ Yes that's all I have to say. Even the poster knows that the magnitude of destruction caused by these terrorists is nothing compared to what nnamdi kalu has done. Make your comments valid next time.
@winexviv Please sir reach out to Federal polytechnic OKO, Anambra state. That is the den of thieves. Most Especially the Electrical Engineering department.
@winexviv Please sir go to Federal polytechnic Oko Anambra. Electrical engineering department to be precise. Those people are not lecturers, they are swindlers.
SPECIAL MESSAGE ON THE REDUCTION OF ABIA STATE DEBT PROFILE UNDER HIS EXCELLENCY, DR. Alex Chioma Otti, OFR
Since the assumption of the office of His Excellency, Dr. Alex Chioma Otti, OFR, on May 29, 2023, Abia State has witnessed a new era of fiscal discipline, transparency, and responsible governance.
When this administration came on board, the state inherited a huge debt burden of approximately ₦191 billion, accumulated over the years by previous administrations. This debt profile posed serious challenges to development, infrastructure delivery, prompt payment of obligations, and investor confidence.
However, through prudent management of public funds, strategic planning, improved internally generated revenue, blocking of leakages, and strict control of unnecessary spending, the administration of Dr. Alex Chioma Otti, OFR, has made significant progress in reducing the debt burden.
So far, the government has successfully paid down ₦142 billion from the inherited debt without contracting fresh loans. This outstanding performance has reduced the state’s debt balance to approximately ₦48 billion.
Summary of the Achievement:
Debt Inherited: ₦191.2 billion
Debt Paid by Present Administration is over ₦142 billion
Debt Outstanding: ₦48.4 billion
This sharp reduction represents approximately 74.3% of the inherited debt profile in less than three years of the administration.
It is on record that no fresh loan has been taken since the assumption of the office of His Excellency, Dr. Alex Chioma Otti, OFR.
Abia State is among the states making notable progress in debt reduction.
It is worthy of mention that Abia State is among the leading states in Nigeria in debt reduction and fiscal discipline since 2023.
A repayment of over 70% of inherited debt is a strong fiscal performance by sub- national standards.
Many states in Nigeria have either maintained or increased debt levels over similar periods, while Abia reportedly reduced its burden substantially.
It is equally noteworthy that the Abia State Debt Management Office had remained largely inactive and ineffective before the appointment of Elder Benson K O Nwaigburu, PhD, by His Excellency, Dr Alex Chioma Otti, OFR. His appointment has positively changed the narrative of the office through unprecedented transformation policies anchored on accountability, transparency, and integrity. This is a clear demonstration that competent leadership, accountability, and sound economic management can produce visible results. Every reduction in debt means more resources are now available for roads, schools, healthcare, pensions, salaries, security, youth empowerment, and economic expansion.
The people of Abia State are witnessing governance driven by results, not excuses. Under Dr. Alex Chioma Otti, OFR, the state is being repositioned from debt pressure to economic prosperity.
We commend His Excellency for this bold achievement and encourage continued support for policies that promote financial responsibility and sustainable development.
May Abia State continue to rise higher under visionary leadership.
Long Live Abia State!
Long Live the Federal Republic of Nigeria!
Compiled By:
Elder Benson K O Nwaigburu, Ph.D
General Manager, Abia State Debt Management Office
@UnkleAyo I too like this guy, he spits facts, doesn't participate in bigotry, not baised, always speaking the truth at every slightest opportunity he gets. Kudus @UnkleAyo