Abia State Governor Alex Otti revealed on Friday that he inherited a staggering N192.2 billion debt from his predecessor, Okezie Ikpeazu, who had inherited N34.5 billion from the previous administration. Speaking to journalists, Otti described the challenges of managing inherited debts with high-interest rates. “It is tough, but we have to do it. We manage our expenses well and are able to live,” he stated, underscoring his administration’s commitment to responsible spending.

Otti expressed satisfaction that Abia State was notably absent from the Debt Management Office’s recent list of indebted states. He also dismissed opposition claims of borrowing N148 billion, affirming that no debt was added without necessity. “We will borrow when the need arises, but for now, we are managing. Borrowing isn’t the problem it’s about how funds are used,” he said, emphasizing financial prudence as central to the state’s development strategy.

Regarding pensions, Otti noted delays in addressing arrears due to a complex verification process but confirmed that as of last Thursday, outstanding payments since 2014 had been cleared. “We’ve resolved all pension arrears for 12,500 pensioners, who are now financially secure. Going forward, we’ll ensure full and timely payments of pensions and salaries,” he assured.

Otti also addressed the condition of local government headquarters, revealing that about 90% had suffered from neglect under previous administrations. Restoration efforts are underway, with Otti pledging to prevent any diversion of local government funds. “Under my watch, every local government receives its funds directly, and we’re making sure they’re operational,” he asserted.