“No room for reckless borrowing” – Gov Otti rejects wasteful loans in Abia

The governor made this statement on Wednesday in Umuahia during a public lecture commemorating his two years in office.

The event, themed “Two Years of Transformation: Sustaining the Momentum,” featured Dr. Kalu Idika Kalu, a former Minister of Finance, as a guest lecturer.

Speaking in response to Dr. Kalu’s presentation, Governor Otti emphasized the importance of financial discipline and responsible governance.

He said his administration has prioritized prudent financial practices to place the state on a sustainable growth path.

His words: “We had to inculcate financial discipline and responsibility in the system to get the state to a greater level.

“We shall only borrow when it is absolutely necessary and not for wasteful expenditure.”

The governor noted that consistent payment of salaries and pensions has been central to his economic approach, arguing that doing so injects money into the local economy and promotes overall stability.

“It makes more economic sense to pay workers and pensioners than to keep money idle in the bank,” he said.

Otti also used the occasion to reaffirm his administration’s commitment to deepening reforms and innovation across Abia.

He said: “We shall commit the remaining two years of this term to institutionalizing the reforms that have been initiated.

“Collectively, we shall make Abia the hub of transformational ideas. We shall not be tired of listening to new ideas, for that is the path to continuous growth and progress.”

He thanked Dr. Kalu for delivering the anniversary lecture, noting that the session was organized to enable honest reflection on the administration’s achievements and areas for improvement.

“We put this lecture together to talk to ourselves honestly and evaluate how far we have come, what we have done right, and what we can do better,” he added.

In his lecture, Dr. Kalu encouraged the governor to consider borrowing for capital projects that create value for the state, stating that such borrowing, when properly managed, is beneficial.

He also urged Otti to leverage the media as a key development partner.

“The media can help this nation get back to life. Don’t give them minor roles — give them key roles,” he said.

The elder statesman commended Otti for the pace and quality of development across the state, while also advising the government to uphold the rule of law and tackle impunity.

“A society where impunity reigns cannot be modernized. There must be consequences for wrongdoing,” Dr. Kalu stated.

The lecture drew a wide audience of stakeholders, policymakers, and citizens who gathered to assess the administration’s performance and chart the course for the next phase of development in Abia State.