…lambasts economic critics, says ‘I will not engage hatchet men’
The Abia State Governor, Alex Otti, says his only worry about the state taking the Islamic Development Bank (IsDB) loan of $125 million is the exchange rates.
This was even as he lambasted an economic critic on school rehabilitation, stating that his government has spent about N14.43 billion on retrofitting of 61 public schools as at June 2025 in furtherance of his transformational agenda in the education sector, stating that these statistics are not doubtful.
Otti, who also assured Abia citizens that he is still in the Labour Party, stated this on Friday during the August edition of his media parley with newsmen in the state, also assured Abians that the loan coming from an Islamic institution is nothing to worry about.
Fielding questions on the loan that the Federal Executive Council (FEC) approved for the state last week, Otti said, “You are worried that it is coming from the Islamic Development Bank. I don’t think you should worry.
“You know money doesn’t have colour, whether it is coming from the temple or coming from heaven. So, the important thing is to use the money for the purpose. So, that is what it is. It is the Islamic Development Bank. Because it is the Islamic Development Bank, there is also something of our interest.”
Asked to give the details of the loan in terms of interest rate, duration and and repayment, the governor said, “I believe that the details will be made clear by the Commissioner for Finance at the appropriate time, but there is nothing to worry about. The conditions are very generous.
“By the time I looked at the conditions, I was actually surprised. But where you should worry is what happens to exchange rates. So, that is always my worry.
“If the money was borrowed prior to May 2023, the exchange rate at that time was under 500. But today, if you are paying it back, you need to look for tri-stack money to pay back one dollar. And that is where the issue of deployment now comes in. That is also where hedging may come in. So, we will deal with that.”
On whether taking the loan will not enslave the state to Islamism and the subsequent establishment of the controversial RUGA in the state, particularly with the Islamic mantra in the country of “dipping the Quiran into the sea”, the governor said, “but in terms of dipping Quran in the ocean, there is no ocean here (in Abia State). So, if you want to dip the Quran in an ocean, you will go elsewhere. So, there is nothing to worry about.”
Reacting to his rumoured defection to the African Democratic Congress (ADC), Otti said, “I thought I had said some time ago that I’m where I am. But if you have any reason to take me to ADC, you have to come and explain to me. But for now, it can be categorised as part of the rumours that people come up with.”
Otti, who reeled out his achievements in the area of health, education, infrastructure, electricity, youths and works, said, “we will continue to push in different areas, particularly on infrastructure, and of course, the other part of infrastructure, the social”, adding, “On healthcare, we have given approval to hire 771 healthcare professionals. About 1,200 of the applicants were shortlisted, and further screening will continue to get all the people that we require.
“Some of the challenges we had in funding have been dealt with, given the passage of the Supplementary Budget last week by the State House of Assembly.”
Also reacting to the statement credited to an opposition politician, demanding accountability for the sums allocated to the renovation of public schools in the state, Otti explained what is published on the government’s website and blamed the politician for not understanding numbers and how they work in accounting, adding that his government has fellows of accountants who contribute to the accountability and transparency of the administration.
The governor explained, “There is something called state S.F.A.S. It is a programme by the World Bank which requires states to publish their budget performance. What is budget? Budget is an estimate. So, these things are very simple. But at the end of the day, what is important is what cash has been spent.
“So, if you go to the website of Abia State Government, the audited financial statement for December 31, 2024, states exactly how much of that 54 billion has been spent. What this government does is that before we hand over money to you, we must collect an advance payment guarantee. So, at any point in time, if you are working for us, your money must be in our hands and not the other way round. So, if you take a walk, you know you will lose money.
“So, when somebody goes to town and says N54 billion is missing, unfortunately for him, he is talking to the wrong people. When you look at this government, at least 3 or 4 members of the Executive Council are fellows of the Institute of Chartered Accountants.
“So, if you want to take on this government, it should not come from numbers, particularly for a man who doesn’t understand numbers.”
The Governor made it clear to the former Commissioner for Information in the state that his government would not hire him nor call him for negotiations, advising, “So I have a message for him. This is a different government. And my response to his request that came at the beginning of this administration remained the same.
“The person he sent to me, that he wants to be part of this government, I told him no. And the answer is no. So we have followed him. He has been part of every government since 1999. In 2007, he started blackmailing the governor at that time, and they called him and gave him jobs.
“So if he likes, let him hang on the transformer. This government would not call him. So he said I should do a video. I checked the records, and I found out about 5 or 6 schools are being done in Umunneochi as we speak. He should come home and see them if he is not afraid of coming home.
“I would not do a video. Why should I do a video and prove to him that I am working in his local government? No, he should come and should not stay in Abuja. And if he comes, please somebody should also tell him not to forget to also visit the university where he claimed he read Law. I am also working there. And to the people that sent him, first of all, they sent the wrong person.”
The Governor, who claimed to know the person who sponsored the former Commissioner to hold a press conference (in Abuja) against his (Abia State) government, described it as “unfortunate that the sponsor hired a man without credibility to carry out the hatchet man’s job”.
According to him, “A man without credibility, you don’t need to send him to go and talk about it. And in any case, they may not have found a man with credibility to come and talk rubbish.
“Because people keep quiet, they think they can get away with anything. You blackmail him, they will call you for a discussion. I will never call you for negotiation. Never. So maybe, you need to set up another structure,” Otti emphasised.
Credit: Nigerian Tribune