Abia State Governor, Alex Otti, has disclosed the state government’s strategic move to propel the implementation of the 2024 Budget, announcing the securing of a significant loan from the Islamic Development Bank amounting to $125 million.
Addressing journalists in Umuahia, the state capital, Otti revealed the pivotal support from the Islamic Development Bank, complemented by funds approved by the African Development Bank to bolster Abia’s development agenda.
“Two days ago, the Islamic Development Bank approved the sum of $125 million for us under AB Seed, as well as the African Development Bank, AfDB,” Vanguard quoted Otti as saying, underlining the critical role these funds would play in advancing Abia’s growth trajectory.
Emphasizing a prudent approach to financial management, Otti clarified the government’s stance on loan utilization, highlighting the intention to draw loans only when necessary and ensure timely repayment to maintain fiscal stability.
Regarding welfare commitments, he reaffirmed the administration’s dedication to addressing pension issues and fulfilling promises of wage awards, affirming the establishment of a committee to oversee these matters.
Offering insights into the state’s infrastructure agenda, the governor outlined ambitious plans for extensive road rehabilitation, illumination projects, and enhancements in the healthcare and education sectors.
Aiming for comprehensive educational reform, Otti detailed plans to rehabilitate numerous primary and secondary schools, setting a high standard to elevate Abia’s educational landscape.
In a bid to equip students for global competitiveness, he stressed the importance of integrating modern teaching methodologies, including internet literacy, renewable energy, and digital technology, with a focus on teacher training to ensure effective delivery.
Highlighting the collaborative efforts with multilateral agencies, Otti underscored the state’s commitment to healthcare improvement and food security initiatives, demonstrating a holistic approach to addressing pressing societal needs.
