Abia total debt profile for 32 years was N190 billion  at 2023, before Otti took over – _Abia citizen challenges Otti over N401 budget loan proposal_

Spread the love

12 / 100

Two things: Reduce the exaggerated cost of contracts and make plans to increase revenue generating capacity of the state.

The contract cost of Portharcourt Road Aba and Ossah Road expansion can give the state 5 more huge projects. These two projects will show a true reflection of likely “HIGH” cost of projects in the proposed budget with 84% Capital Expenditures.

Again, the New Abia government finds itself in self-inflicted controversy, which is an own goal by proposing a 71% borrowing to fund its 2024 budget; they turn around to say “Ikpeazu borrowed N190 billion”.

Meanwhile, the “Economist” Governor is proposing to plunge Abia into a mother of all debt just in one year, by quadrupling the total Abia debt profile to an all time high by his 2024 budget proposal. Otti could save the state this proposed chain of budget deficits by simply reviewing his 2024 maiden budget of inexperience.

It has become a convenient escape route for an incompetnt government to keep going back to blame its predecessor, just like Buhari.

A government that said Dr. Okezie Ikpeazu didn’t perform as Governor, yet has centered its governance parameters around him. Every project they are repainting and claiming were all done by his predecessors, including the AFDB infrastructure loan they are struggling not to give credit to those behind it.

Otti is challenged on fiscal recklessness, he blames Ikpeazu. He draws up an unrealistic budget proposal, he blames Ikpeazu. He will even blame Ikpeazu for his “choppinson” of N2.4 Million daily on meals, Security vote of N933 Million monthly and over-bloated convoy that consumed N167 Million on fuel based on his own Q3 of 2023, fiscal report.

There should be no arrogance in making mistakes as a learner. Just like Mr. Sanwo-Olu of Lagos apologised to his people for his fiscal recklessness as exposed by Lagos State Q3 report, Otti would have followed that example to apologise to Abians and to demonstrate that he was ready to make amends, but rather they mounted an even more expensive media campaign trying to defend the indefensible.

*Otti, where are the investors that will rush to Abia upon mentioning your name as Governor?, if not mere political cheap talk and rhetoric, those investors would have assisted in funding some infrastructure through PPP, instead of borrowing a whopping 71% to fund an unrealistic budget.



About The Author

Spread the love

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.