Abia State Secures USD125m Loan Being Part of Her 2024 Budget

 

The Abia State Governor, Alex Otti said, his government is set to secure loans to implement the 2024 Budget adding that already the Islamic Development Bank has approved $125m for the state.

 

The governor disclosed this on Monday during a Media chat with journalists in Umuahia, the State Capital.

 

He also said that the African Development Bank approved the sum of $125m for the State under AB seed, as well as the African Development Bank, AFDB, all are yet to be drawn after perfection.

 

He further added, “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”.

 

Dr. Alex also spoke on wage and salary increases, he assured workers that his administration is poised to keep its promise, stating that there is already a committee in place to see it through.

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

 

On infrastructure, the governor said his government will continue with its massive road rehabilitation, light up Abia, ensure improvement in the health system, and resolve to salvage the education system that has been going down. Adding that 170 primary schools and 51 secondary schools will be fully rehabilitated by the end of this year.

 

He said, his government has designed the best model for Abia schools so that “the Abia standard schools will look a certain way”, and he further added that the government has the needed support to train teachers that will ensure that they teach students what is relevant in the 21^st century which includes the internet, renewable energy, digital technology among others to make Abia students competitive in line with the global practices.

 

On health, Governor Alex Otti said “We will continue to improve healthcare delivery in the state” not leaving out food security in his statement, the state, he said, has a lot of initiatives to deal with hunger and is working around the clock to ensure that this planting season, all lands in Abia will be duly cultivated.