Governor Otti revealed significant financial developments in Abia State, including a $125 million loan approval from the Islamic Development Bank. However, the loan has not been drawn pending final documentation.
Governor Otti mentioned at a media event in Umuahia that the state received loan approvals from another unnamed financial institution.
Various commercial banks have offered loans to the state, but none of them have been utilized thus far.
Despite the state’s financial requirements to support its 2024 budget, Otti emphasized a cautious approach to borrowing, stating that loans would be accessed only when deemed necessary.
Governor Otti announced securing a $125 million loan from the Islamic Development Bank, pending final paperwork, marking significant financial progress.
Otti reiterated commitment to promptly resolving pension arrears and salary backlogs, assuring affected pensioners and workers of relief.
Governor Otti pledged to rectify payment omissions for workers, ensuring they receive rightful remuneration through collaborative efforts with officials.
Governor Otti also discussed various governance initiatives, including plans for wage awards pending committee reports, efforts to monitor workers’ attendance for improved efficiency, and upcoming sanitation enforcement measures across cities to enhance public health and cleanliness.
Otti’s administration agenda includes addressing flooding, improving waste management, digitizing libraries, and enhancing agriculture to address food security concerns.
In conclusion, Governor Otti reaffirmed his administration’s commitment to fiscal responsibility, efficient governance practices, and improving the overall quality of life for residents of Abia State.
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