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Abia secures $125m loan to implement 2024 budget

Abia secures $125m loan to implement 2024 budget
Abia secures $125m loan to implement 2024 budget

Alex Otti,  The Governor of Abia State, made a statement about the state government’s plans to secure loans to implement the 2024 Budget and that the Islamic Development Bank has already approved $125 million for the state. This was disclosed on Monday during a chat with journalists in Umuahia, the state capital.


He also added that the African Development Bank has approved some state funds.

According to the Governor’s statement, he 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.”

The governor assured workers about wage awards or salary increases, that his administration had not withdrawn its promise on that, stating that there is already a committee in place on the matter.

he said, “We had promised that by the end of this month, we will resolve the lingering pension issues. In our executive council meeting today, we had some resolutions, and soon, pensioners will be settled.”

In a statement he made, about the local government accounts not being tampered with, he said. “Mayors are grading roads and building health centers. I don’t know where else they are getting the money from.”

On the topic of infrastructure, the governor disclosed, “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”, in addition, that 170 primary schools and 51 secondary schools have been earmarked to be rehabilitated so that by the end of the year, every school will be fully rehabilitated.

He also made a statement that said the state government has designed the best models for Abia schools so that “the Abia standard schools will look a certain way.”

Trained teachers will teach students what is relevant in the 21st century, including the internet, renewable energy, and digital technology, among others to make Abia students competitive in line with global practices, he further said.

Nevertheless, the state government, he mentioned, would guarantee the quality and skills necessary to teach the students by ensuring the right training for the teachers, saying“We have received lots of support from multilateral agencies. We are not alone. ”

On the topic of health, he stated, “We will continue to improve healthcare delivery in the state”, noting 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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