Abia State Governor, Dr. Alex Otti, has reported that his administration has paid N72 billion of the N138 billion that the Debt Management Office (DMO) reported he inherited on assumption of office in 2023.

He said that he did so without incurring new debts and liabilities since he came into office on May 29, 2023, despite undertaking and executing numerous developmental initiatives and projects across various sectors of the state.

Governor Otti said this during his April monthly chat with journalists tagged “Governor Otti Speaks To Abians”, held at Government House, Umuahia, the state capital.

He said that the N138 billion debt profile he inherited was according to the Debt Management Office (DMO) 2023 report, but that, going by government’s own numbers, the inherited figure should be more than N138 billion.

“This is because internal assessments suggested that the actual debt figure may be higher than this N138 billion figure, if unpaid salaries, pensions, and contractor liabilities were factored in. Hence, I am not sure the DMO took into account the background of salaries and pensions and, of course, other debts, including contractors’ debts.”

Speaking further on this, Governor Otti, of the state-ruling Labour Party, stated that the DMO’s latest report, as of December 2024, showed that his administration has reduced Abia’s debt profile down to N66 billion after repaying the N72 billion, attributing this achieved feat to fiscal prudence, transparency, and strong governance ethics.

He added, “Again, going by the DMO figures, as of December 2024, the N138 billion has been reduced to N66 billion after paying the N72 billion of our inherited debt, and without borrowing any dime.”

He said that his administration has paid off N72 billion of the inherited debt since assumption of office without accruing any fresh liabilities and would continue its legacy of non-financial recklessness, which he alleged characterized previous administrations, vowing to Abians that his government would continue to ensure that every kobo of Abia’s money is accounted for.

“Some people are used to wasting money. This government is a very prudent government and will continue to be prudent and to ensure that no drop of Abia money is wasted.”

Assuring the citizenry of the full benefits of development, which he, however, stated can be guaranteed under a safe and stable environment, he enjoined the citizenry to remain supportive, discharge their statutory civic responsibility—especially in matters of security—as well as be cooperative and vigilant.