₦airaland Forum

The Abia State Government, under the leadership of Alex Otti of the Labour Party, looks to borrow to fund 71 per cent of the 2024 budget.

In an analysis of the budget, the state said it plans to get N166,077,717,058 in revenue, including earnings from internally generated channels, the Federation Accounts Allocation Committee, and other sources.

This represents 29 per cent of the total budget expenditure.

According to Statisense, the figure showed that 71 per cent of the budget is expected to be funded through borrowing.

In June, the Special Adviser to Governor Alex Otti on Finance, Mike Akpara, said the state owes N191,239,307,593.67 billion in domestic and foreign loans.

The implication is that if the Abia State Assembly passes the budget, the state’s debt portfolio will rise to a record high.

The walleyed man will surely leave Abia worst than he met it

Benwallt:
The walleyed man will surely leave Abia worst than he met it

Since when did a hateful bigot like you start caring for Ndigbo and governance in our states! All you do is create threads that you think cast Ndigbo in a bad light, while at the same time creating threads that cast the Yoruba in a favourable light and leave them smelling of roses!

If this man borrow chichi he go hear he should just continue the way Soludo as been running his state without borrowing a dime.

Benwallt:
The walleyed man will surely leave Abia worst than he met it

He was the M.D of now defunct Diamond Bank Plc. He must have learnt by now how to avoid similar scenarios that can make an organisation go bankrupt.

Benwallt:
The walleyed man will surely leave Abia worst than he met it

Shooo! Na ur worst? Abeg face ur front jarreyyy! !

Lagos state as at today is still owning over 2 trillion naira and they are still borrowing .

FreeStuffsNG:
He was the M.D of now defunct Diamond Bank Plc. He must have learnt by now how to avoid similar scenarios that can make an organisation go bankrupt.

You mean he wrecked Diamond Bank under 3years? Abia is gone. Abia will not recover after the walleyed tenure.

If he couldn't give out loans in moderation as a bank MD, he sure can't collect with moderation as a sitting governor

LOVEALAIGBO:
Since when did a hateful bigot like you start caring for Ndigbo and governance in our states! All you do is create threads that you think cast Ndigbo in a bad light, while at the same time creating threads that cast the Yoruba in a favourable light and leave them smelling of roses!

Are you crying? Sorry o. I was only telling you boys to watch Otti carefully. I don't know it will make you teary

Dragonsword:
Shooo! Na worst? Abeg face ur front jarreyyy! !

Lagos state as at today is still owning over 2 trillion naira and they are still borrowing .

Hmm.

LOVEALAIGBO:
Since when did a hateful bigot like you start caring for Ndigbo and governance in our states! All you do is create threads that you think cast Ndigbo in a bad light, while at the same time creating threads that cast the Yoruba in a favourable light and leave them smelling of roses!

Hehehe

Since when did you hateful ipobic elements start caring about the ZOO and the governance?

Benwallt:
The Abia State Government, under the leadership of Alex Otti of the Labour Party, looks to borrow to fund 71 per cent of the 2024 budget.

In an analysis of the budget, the state said it plans to get N166,077,717,058 in revenue, including earnings from internally generated channels, the Federation Accounts Allocation Committee, and other sources.

This represents 29 per cent of the total budget expenditure.

According to Statisense, the figure showed that 71 per cent of the budget is expected to be funded through borrowing.

In June, the Special Adviser to Governor Alex Otti on Finance, Mike Akpara, said the state owes N191,239,307,593.67 billion in domestic and foreign loans.

The implication is that if the Abia State Assembly passes the budget, the state’s debt portfolio will rise to a record high.

Who cares. Wailer