₦airaland Forum

@CPS to GovOtti

Press Release:

PRESIDENT TINUBU APPROVES $125 MILLION ISLAMIC DEVELOPMENT BANK FACILITY FOR ABIA STATE INTEGRATED INFRASTRUCTURE DEVELOPMENT PROJECT (ABSIID)

The Abia State Government is pleased to announce that the long-awaited USD 125 Million Islamic Development Bank (IsDB) financing facility for the Abia State Integrated Infrastructure Development Project has been approved by the Federal Executive Council (FEC) at its meeting of Wednesday, August 13, 2025.

This approval marks a major milestone in a project that has undergone extensive consultations and procedural steps, and is a critical component of the overall co-financing arrangement for the State’s ambitious infrastructure development drive. The project’s total cost is USD 263.80 million, comprising:

•USD 125 million from the Islamic Development Bank [ IsDB]

•USD 100 million from the African Development Bank (AfDB);

•USD 15 million from the Canada–Africa Development Bank; and

•USD 23.80 million counterpart funding from the Abia State Government.

The IsDB facility is particularly significant because its financing agreement must be signed for the project to proceed, given the integrated nature of the co-financing structure. The AfDB and Canada–Africa Development Bank financing agreements have already been concluded, with the AfDB loan agreement signed earlier this year.

Under the project, the IsDB financing will support the construction of approximately 126 kilometres of road network in Aba and 35.57 kilometres in Umuahia, including a link road between the two cities, as well as critical erosion control works within the project sites. When completed, the project will:

•Reduce travel time in Abia’s busiest urban corridors;

•Create over 3,000 jobs for local residents;

•Reduce greenhouse gas emissions;

•Improve access to social services; and

•Attract private sector investment.

The project is owned by the Abia State Government and will be executed through the State Ministry of Works, under the supervision of the State Steering Committee. The Steering Committee will provide policy direction to the State Project Implementation Unit (SPIU) and all stakeholders.

Procurement for the IsDB-financed components, covering civil works and consultancy services, will follow the Bank’s procurement guidelines, with disbursements made directly to contractors and consultants.

This milestone follows sustained engagement and intergovernmental coordination.

This approval is also a direct complement to the visionary infrastructural development agenda of the administration. Since assuming office, the Governor has made the modernization of Abia’s road networks, the revitalization of urban centres, and the integration of sustainable development principles a cornerstone of his administration. The IsDB facility will strengthen these ongoing efforts, accelerating the pace of road reconstruction in Aba and Umuahia, addressing critical erosion challenges, and laying the groundwork for an integrated transportation network that supports commerce, improves quality of life, and enhances the State’s competitiveness.

His Excellency, Dr. Alex Otti, OFR, Governor of Abia State, expressed appreciation to:

•President Bola Ahmed Tinubu for his trust and pragmatic leadership;

•The National Assembly, for approving the borrowing plan;

•The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, for his leadership in concluding the financing process;

• Secretary to the Government of the Federation and Attorney General of the Federation for their roles in facilitating the process;

. The VP IsDB, Dr. Mansur Muhktar who not only reached out in November 2023, but saw to it that internal approvals were received on the request for the facility.

•All other stakeholders who contributed to this success.

Governor Otti further noted that this landmark project will complement his administration’s ongoing infrastructural development initiatives, aimed at modernizing Abia’s transportation network, revitalizing urban centres, and positioning the State as a hub for sustainable economic growth.

Signed:
Ctz. Ukoha Njoku Ukoha
Chief Press Secretary to the Executive Governor of Abia State.
14-08-2025.

https://www.facebook.com/share/p/16h6M5W1Kk/

When completed, the project, according to the statement, would reduce travel time in Abia’s busiest urban corridors, create over 3,000 jobs for local residents, reduce greenhouse gas emissions, improve access to social services, and attract private sector investment.

Same Abia State whose indigenes worked against APC and derided APC as an Islamic party is now the first beneficiary of the Muslim-Muslim APC ticket Presidency and Islamic institution they derided. Smh.

This is a solid evidence that APC and the President don't discriminate against any Nigerian let alone discriminate along tribal or religious lines like APC opponents in Abia State do.

Let it be on record that Islamic Bank built Aba

Thank you President Bola Ahmed Tinubu and Vice President Shettima.

Islamic as how?

Is this Playing? make una explainn

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How and when will the State pay back the loan and what is the Islamic Banking demands?

Abia is taking loans everywhere is silent.

Let one APC gov publicise same, you will see the lovers of Nigeria wailing all over the internet

FreeStuffsNG:
[b]
This is a solid evidence that APC doesn't discriminate along tribal or religious lines.

.

Thank you o Abdulganus Alganusi family members.
God airpus o!

wellmax:
Head slamming bank is giving loan to Abia. I hope the citizens will grow up and stop insulting others

FYI it was the state that approached them for the loan.

I thought the State is the one patronizing the bank and should be applauded and not the other way round.

As little as my business is, many banks are begging me to patronize them and collect loans. I always tell them that I need credits and guarantees and not loans.

MadamExcellency:
How and when will the State pay back the loan and what is the Islamic Banking demands?

No interest!

That’s the plus of that comes with all these Islamic banks

FreeStuffsNG:
When completed, the project, according to the statement, would reduce travel time in Abia’s busiest urban corridors, create over 3,000 jobs for local residents, reduce greenhouse gas emissions, improve access to social services, and attract private sector investment.

Same Abia State whose indigenes worked against APC and derided APC as an Islamic party is now the first beneficiary of the Muslim-Muslim APC ticket Presidency and Islamic institution they derided. Smh.

This is a solid evidence that APC and the President don't discriminate against any Nigerian let alone discriminate along tribal or religious lines like APC opponents in Abia State do.

Let it be on record that Islamic Bank built Aba

Thank you President Bola Ahmed Tinubu and Vice President Shettima.

Learn to Read!

Propaganda from una will never last 2 seconds.

Loan is not a grant.

Other banks also gave loans.

CoronaVirusPro:
No interest!
That’s the plus of that comes with all these Islamic banks

Na charity organization?
Go and make more research. They will get their profit.

CoronaVirusPro:
No interest!

That’s the plus of that comes with all these Islamic banks

What are the terms? Something must give. The bank is not father Christmas and they have reoccurring expenditures to settle. Remember, the Islamic Banks pay tax to FG.

The islamisation of Abia is here . Thanks to IsDB. Where are the bigots? Mek una force the governor to reject the loan na

Good. We need sheikhs and emirs in the Southeast! Their guidance is sorely needed.

ALEX OTTI will not do anything with that money in reality, syphoning will be 100% activated with full speed

MadamExcellency:
What are the terms? Something must give. The bank is not father Christmas and they have reoccurring expenditures to settle. Remember, the Islamic Banks pay tax to FG.

To build a mosque in Umahia!!!

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Where the president does well, I'll commend him. This is a great development. But must be travel again? Is the first lady not taking good care of him? We need to know pls.

Amazingly it has no interest attached to it.

How does many word make the forum exiting As how

There is strong confidence that Gov Alex Otti will use this money well. I think this is a right step in the right direction. In 10 years, Abia state will be the best in Nigeria.

If the headline had been FG took $125m Islamic Development Bank loan facility the comments might have reached the fifth page insulting Tinubu.

CoronaVirusPro:
No interest!

That’s the plus of that comes with all these Islamic banks

So they will use islam money to develop Abia state.

FreeStuffsNG:
When completed, the project, according to the statement, would reduce travel time in Abia’s busiest urban corridors, create over 3,000 jobs for local residents, reduce greenhouse gas emissions, improve access to social services, and attract private sector investment.

Same Abia State whose indigenes worked against APC and derided APC as an Islamic party is now the first beneficiary of the Muslim-Muslim APC ticket Presidency and Islamic institution they derided. Smh.

This is a solid evidence that APC and the President don't discriminate against any Nigerian let alone discriminate along tribal or religious lines like APC opponents in Abia State do.

Let it be on record that Islamic Bank built Aba

Thank you President Bola Ahmed Tinubu and Vice President Shettima.

We Abians don't reply or engage ourselves in media war
Nooooo we are too busy for that
But all I can say now say what you know and what you can defend anyday anytime to avoid "nah devil hand work" nothing like devil here
We Abians has Respect for everybody but don't disrespect us
That's all I can say
God Bless Abians
God Bless Our Governor
God Bless those who want to see This Country thrive
God Bless Ala Igbo in General
God Bless us all

tunjijones:
So they will use islam money to develop Abia state.

It’s a loan, it will be returned.

Better go bank with Islamic banks. You missing! Let those new generation banks be cutting your head with interest.

MadamExcellency:
How and when will the State pay back the loan and what is the Islamic Banking demands?

Summary Table
Aspect Details
Loan Type. ~Qard Hasan (interest-free loan)
Repayment~Principal-only, with agreed grace and installment schedule
IsDB Benefit~Development impact, spiritual reward, goodwill, future cooperation
Recipients~Typically least-developed or low-income member countries

CoronaVirusPro:
No interest!

That’s the plus of that comes with all these Islamic banks

They charge administrative fees on money and also share in profits. It is more or less the same thing

FreeStuffsNG:
@CPS to GovOtti

https://www.facebook.com/share/p/16h6M5W1Kk/

That's an interest-free loan facility right there BUT I can imagine the torrents of reactions to that move from some people of that State from here on out.