Governor Alex Otti of Abia state has revealed that his administration has paid N72 billion from the N138 billion debt it inherited from past administrations of Abia state since assumption of office.
The Governor gave the revelation during the monthly media parley held on Wednesday at the Government House, Umuahia.
Governor Otti said with the records of the Debt Management Office (DMO) figures, as of December 2024, that state government was able to reduce its debts to 66 billion and has not borrowed.
“So that being, by their own numbers, we have paid down N72 billion of inherited debt, and we have added no dime in borrowing,” he said.
The governor reiterated his administration’s commitment to financial prudence and efficient resource management.
“On the management of our resources, we will continue to be prudent and to ensure that no kobo of Abia money is wasted.
“Some people are used to wasting money. But this government is a very good government.
“According to the Debt Management Office, this administration inherited a debt profile of N138 billion.
“That is according to the DMO in 2023, but according to our own numbers, it is a lot more than that.
“I am sure the DMO did not take into account the backlog of salaries and pensions arrears and, of course, other debts, including contractors’ debts,” he said.
Otti described the state’s ability to make the payment as a product of prudence, goodwill and the ability to get the best deal in all the government’s transactions.
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