Governor Alex Otti of Abia State has disclosed that he inherited a debt of N192.2 billion from his predecessor, Okezie Ikpeazu, News About Nigeria reports.
Otti made this revelation during an interaction with journalists while speaking on the state’s financial situation.
According to Otti, Ikpeazu inherited a debt of N34.5 billion from his predecessor before accumulating additional liabilities during his tenure.
Otti said that while some of the debts have been settled, many remain at high interest rates, which is a challenge to the state’s financial stability.
Otti expressed satisfaction that Abia State was not listed among the debtor states recently identified by the Debt Management Office.
He debunked claims by the opposition that his administration had borrowed N148 billion, stating that borrowing should be strategic and tied to specific developmental projects.
Regarding pension arrears, Otti assured that his administration had cleared outstanding payments after completing a rigorous verification exercise.
He said, “All pensions have been paid as of last Thursday. All the arrears have been taken away. These pensioners, who would have been begging for money, are now feeding themselves.
“So, we have returned power to these pensioners. 12,500 of them were paid. Going forward, 100% of their entitlement will be paid as and when due. We have always paid 100% salaries. Never again will we have a backlog of pensions, some of which date back to 2014.”
Furthermore, Otti noted that there are ongoing infrastructure development projects across local government areas in the state.
Speaking on the state of neglect suffered by many local government headquarters, he affirmed his commitment to their restoration.
Addressing concerns about the alleged hijacking of local government funds, Otti reassured that his administration was committed to transparency and accountability.
He pledged to prevent the mismanagement of funds at the local government level and added that there are plans to settle the salary arrears of parastatal workers promptly.
