In Abia: Gov. Otti Spends N90bn On Debt Payments, Says State Fertile for Investments

Governor Alex Otti of Abia State has said that his government has so far spent N90 billion to service the debt of N191.2 billion inherited from the immediate past administration.

He made this known at the November edition of his media chat, saying that the debt payment, which represents 47.1 percent of the total debt profile, “shows how effective this government is”.

Otti said his predecessor inherited just N34.5 billion debt in 2015 but after eight years in office Okezie Ikpeazu grew Abia debt portfolio by over 500 percent which was handed over to his government on May 29, 2023.

However, he stated that despite the huge amount already spent on debt servicing, his government has not borrowed a dime from any source and would continue to manage the finances of the state with prudence.

The Abia chief executive expressed delight over the success recorded by the Abia State Public, Private and Foreign Investments Agency which was set up last year.

He said that the agency has justified the purpose for its establishment, citing the National Bureau of Statistics(NBS) report  showing that Abia has so far attracted $150 foreign investments inflow to place third behind Lagos and Abuja.