Abia State Secures $125 Million Loan to Execute 2024 Budget Initiatives
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Abia State Governor, Alex Otti, has revealed plans by the state government to obtain loans for the implementation of the 2024 Budget, disclosing that the Islamic Development Bank has greenlit $125 million for the state. Otti made this announcement during an interaction with journalists in Umuahia, the state capital, on Monday.
He further disclosed that the African Development Bank has also sanctioned funds for the state’s developmental projects.
Governor Otti emphasized a cautious approach to loan utilization, stating, “We have received loan offers from commercial banks, but we have refrained from utilizing them. Our strategy is to access loans only when necessary, ensuring repayment when liquidity is available.”
Addressing concerns about wage awards and salary increases, Otti reassured workers that his administration remains committed to fulfilling its promises in that regard, affirming the existence of a committee tasked with resolving related matters.
Furthermore, Otti outlined various areas of focus for the state’s development agenda, including infrastructure, education, healthcare, and food security. He underscored ongoing efforts in road rehabilitation, the illumination of Abia, and enhancements in the health sector. Additionally, plans are in motion to revamp the education system, with significant investments earmarked for school rehabilitation and teacher training.
Governor Otti emphasized the importance of equipping Abia students with relevant skills for the 21st century, including digital literacy and renewable energy awareness, to ensure their competitiveness globally.
Highlighting partnerships with multilateral agencies, Otti assured that Abia State is not alone in its developmental endeavors.
In terms of healthcare and food security, Otti pledged continued improvements, asserting the state’s commitment to ensuring robust healthcare delivery and initiatives to address hunger through comprehensive agricultural programs.
Overall, Governor Otti conveyed the state government’s determination to execute its development agenda diligently, prioritizing the welfare and advancement of Abia State and its citizens.
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