We’ve paid N72bn of inherited debt – Abia State Governor

Gov. Alex Otti of Abia has disclosed that his administration has paid N72 billion from the N138 billion debt it inherited from past administrations on assuming office.

Otti made this known during a monthly media briefing on Wednesday at the Government House, Umuahia.

He said that going by Debt Management Office (DMO) figures, as of December 2024, that State Government was able to reduce its debts to 66 billion and have 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 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 government’s transactions.

He also cautioned media houses against misreporting government activities, urging them to seek information through the proper communication channels.