Governor Alex Otti of Abia State has responded to concerns over the $125 million loan recently approved by the Federal Government for infrastructure development in the state.
He said the loan, sourced from the Islamic Development Bank (IsDB), has no religious undertone and will be used strictly for development.
During a media parley in Umuahia, Otti addressed rumours linking the loan to religious influence.
“Now, you are worried about the $125 million dollars. You are worried that it is coming from Islamic Development Bank? I don’t think there’s any need for worry,” he said.
“You know money doesn’t have colour. Whether it is coming from the devil, or coming from heaven. The important thing is to use the money for the purpose.”
He assured that the funds will be used judiciously and that his administration remains committed to transparency and prudent resource management.
Otti added that the Commissioner for Finance will soon provide full details of the loan terms.
“The conditions are very generous. By the time I looked at the conditions, I was utterly surprised,” he said.
Infrastructure Boost for Aba and Umuahia
The loan is part of a larger $263.80 million co-financing package for the Abia State Integrated Infrastructure Development Project.
It includes $100 million from the African Development Bank, $15 million from the Canada–Africa Development Bank, and ₦23.80 million counterpart funding from Abia State.
The IsDB portion will fund 126km of roads in Aba and 35.57km in Umuahia, including a link road between both cities.
It will also cover erosion control, reduce travel time, and create over 3,000 jobs.
The project aims to modernise Abia’s transport network, improve access to social services, and attract private investment.
Procurement will follow IsDB guidelines, with direct disbursements to contractors and consultants.
Otti Thanks Tinubu, Assures Workers of Salary Funds
Governor Otti praised President Bola Tinubu for supporting the loan approval.
“We thank President Bola Tinubu for his trust and pragmatic leadership,” he said.
He also acknowledged the roles played by the National Assembly, Minister of Finance Wale Edun, and other federal officials.
On reports of unpaid salaries and pensions, Otti urged affected civil servants and retirees to contact the Commissioner for Finance.
“The fund for their payment remains intact,” he assured.
He noted that his only concern with the loan is the fluctuating exchange rate.
“What we are usually worried about is what happens to exchange rates. That is always my worry,” he said.
“If the money was borrowed prior to May 2023, the exchange rate at that time was under ₦500. Today, it is no longer the same.”
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