Governor Alex Otti of Abia State has reassured residents over the $125 million loan recently approved by the Federal Executive Council (FEC) from the Islamic Development Bank (IDB), describing the terms as favourable and beneficial to the state.
Speaking during his monthly media parley in Umuahia on Friday, Otti said there was no cause for alarm over the facility, which is intended to finance the Abia State Integrated Infrastructure Development Project.
“There is nothing to worry about; the conditions are generous and by the time I looked at it, I was actually surprised,” the governor said.
He noted that the only concern should be the prevailing exchange rate, pointing out that loans taken before May 2023 were tied to an exchange rate of under ₦500 per dollar, while repayment today would require almost three times that amount.
Highlighting his administration’s priorities, Otti revealed that 120 out of 200 primary health centres targeted for rehabilitation had been completed, while all 22 general hospitals in the state were undergoing upgrades. Obingwa General Hospital, he added, would be completed and inaugurated before the end of the month.
On education, the governor said 221 schools were receiving attention in the first phase of rehabilitation. He explained that the introduction of free and compulsory education from primary to junior secondary level had triggered a surge in enrolment across public schools.
Otti also disclosed that over 80 roads were being rehabilitated—50 through direct labour and 30 through contractors—while challenges with funding were being addressed following the passage of a supplementary budget by the State House of Assembly.
He further outlined ongoing projects in electricity, agriculture, and other sectors, assuring residents that his government remained committed to delivering sustainable development across the state.
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