₦airaland Forum

Former Abia State Governor and Senator representing Abia North, Senator Orji Uzor Kalu, has asserted that Governor Alex Otti received more financial allocations within four months than he did throughout his eight-year tenure as governor.

Kalu made the remarks on Thursday while addressing journalists during a press conference at his country home in Igbere.

According to the former Senate Chief Whip, the volume of funds currently available to the Abia State Government surpasses what was accessible during his time in office, insisting that this context must be considered when assessing governance performance.

“The money Governor Alex Otti received in four months is what I received in eight years,” Kalu said.

The former governor further claimed that much of what he has observed under the current administration involves the repainting and rehabilitation of infrastructure executed during his own tenure.

“What I see mostly is the repainting and rebuilding of roads constructed during my administration. I have not seen major new roads of the scale we undertook,” he stated.

Kalu maintained that his record in office remains verifiable, stressing that his administration implemented policies that provided free education and healthcare for Abia residents during his time as governor.

Speaking on his performance at the National Assembly, the senator said his legislative achievements were unmatched, particularly in the area of rural development. He cited the construction of new farmland and rural access roads across communities in Abia North as evidence of his impact.

“I am in the Senate, and the roads I am doing are brand new farmland roads. In two years, I have done what many people thought was impossible,” Kalu added.

Source: https://abntv.com.ng/news/otti-got-in-4-months-what-i-got-in-8-years-as-governor-kalu-fires-back-at-critics-video/

And yet No any single quality projects in Abia state, Alex otti only mission as governor is to defraud the state completely

Oga come to ariaria and say that

Orji kalu's only achievement in Abia State was enyimba football club ,the roads built were the poor standard know as Dubai roads .

You are a liar. What is the value of money then and now? You will know that your money make sense than what he is getting now. Please Abia is comfortable with Oti.

What is the value of what you got then compared to now ? Let’s use USD for example. You got it when Naira was much stronger.

Because the value of naira has depreciated astronomically

It’s not about allocation but mindset. One has the mindset to work, the other to steal and plunder!

How much was a bag of cement in your time #900 or #1000. But today it is #10k . Inflation also affects government contracts and purchases.
So that reasoning is not appropriate. Just say you are ashamed and only admitting that his few months in office have dwarfed your whole 8 years, in terms of completed projects

You didn't talk of the value of money. Quantity is not same as quality

Nigerian politicians and HALF TRUTH na 5&6. What orji stole and went to prison for is more that 1 year allocation. Kalu is saying what he received then was small yet it was enough for him to steal from it. Liar

The way obidients are sing it the praises of Otti, you think the man have transformed Abia state, he didn't even do half of what Governor Peter Mbah of Enugu state is doing and achieving silently

123yes:
You are a liar. What is the value of money then and now? You will know that your money make sense than what he is getting now. Please Abia is comfortable with Oti.

What I see mostly is the repainting and rebuilding of roads constructed during my administration. I have not seen major new roads of the scale we undertook,” he stated.

Dispute this, show us the road Otti started and completed

Then how much was Dollar then?

All past governor of that state are attacking the current government

Stupeid and nonsensical assessment by Thief Orji Kalu.

In 1999, when Thief Orji Kanu became governor of Abia, the US Dollar to Nigerian Naira exchange rate varied, with official rates around ₦82-₦92. By the time you left office, the $ was exchanging for $125. If we average your allocation at the average of $1 was N105, it means that you received 14 times what Otti is getting now.

So please mechie-onu and enjoy your loot in peace!

With all due respect please keep quiet. Convert your Faac to dollars and compare.

Is that why you could not clear refuse

Kclawx:
What is the value of what you got then compared to now ? Let’s use USD for example. You got it when Naira was much stronger.

Validated:
Stupeid and nonsensical assessment by Thief Orji Kalu.

In 1999, when Thief Orji Kanu became governor of Abia, the US Dollar to Nigerian Naira exchange rate varied, with official rates around ₦82-₦92. By the time you left office, the $ was exchanging for $125. If we average your allocation at the average of $1 was N105, it means that you received 14 times what Otti is getting now.

So please mechie-onu and enjoy your loot in peace!

Nextjs:
Then how much was Dollar then?

All past governor of that state are attacking the current government

Yet, a few months ago, when Obi criticized the government for increasing our debt in naira, when in fact, our debt has reduced in dollars, you all cheered and supported him. Funny enough, in all my years, I have never heard Nigeria's debt quantified in naira before, until Obi did. It has always been in dollars.

I laugh at many of you who claim to be different from the current crop of leaders. You are not different, you are just angry that the people you want are not in government.

Stupidity and selfish interest nogo gree kalu check the two different exchange rate and the value of naira now. Evil people.


NIGERIANS! ANY MAN THAT TURNED A SENATOR AFTER BEING A GOVERNOR DONT MEAN WELL FOR NIGERIA, BE YOU FROM ANY PART OF THIS COUNTRY

Ahh. What level of illiteracy is this?


You paid N100-N7,000 as minimum wage in your era (N1999-2007) so why do you want to take the same allocation with someone paying 72,000 minimum wage?

Who made this illiterate a governor/senator?

[thank you o my brother]You are a liar. What is the value of money then and now? You will know that your money make sense than what he is getting now. Please Abia is comfortable with Oti.[/quote]

Metrix147:
Source: https://abntv.com.ng/news/otti-got-in-4-months-what-i-got-in-8-years-as-governor-kalu-fires-back-at-critics-video/

What was the cost of living when Kalu was governor almost two decades ago?

What was the minimum wage then?

Kalu and his fellow leaders looters should stop this lame attempt at gaslighting Nigerians.

He should leave the Governor alone to focus on his job.

yarimo:
And yet No any single quality projects in Abia state, Alex otti only mission as governor is to defraud the state completely

You're in denial. May God redirect and get you to face reality in 2026 🙏

Mischievous rogue, what was the exchange rate compared to now.
All these past and corrupt leaders think everyone is an illiterate.
Nigeria is a developing country which means that she imports almost all the things we use in this country which are in foreign currency.
Now using the current exchange rate of the naira to the dollar, one would observe that the money doesn't make sense.
5 years ago, with 30k, I would go to the market and get enough food stuffs that would carry me for a month and still remain. But currently with 70k, I can't even get things that will carry me to the end of the month.

And what did you do with the one you recieved? Loot it.

DoTheNeedful:
Yet, a few months ago, when Obi criticized the government for increasing our debt in naira, when in fact, our debt has reduced in dollars, you all cheered and supported him. Funny enough, in all my years, I have never heard Nigeria's debt quantified in naira before, until Obi did. It has always been in dollars.

I laugh at many of you who claim to be different from the current crop of leaders. You are not different, you are just angry that the people you want are not in government.

How can our debt reduce in dollars when Tinubu is borrowing more from external sources than PDP’s deregulation and privatisation experts? PDP politicians who gave us 16 years of prosperity, high employment productivity and low insecurity!

Any idea what Tinubu and APC have done to the $84 billion subsidy savings and his August higher revenue target, while he claimed to have stopped borrowing

ijustdey:
Nigeria will pay an interest of 11.85 percent per annum on the $3.3 billion “pre-export finance facility” (PxF) facilitated by the Nigerian National Petroleum Company (NNPC) Ltd and arranged by Afrexim Bank, TheCable can report.

Until now, the fine details of the transaction, which has a five-year tenor, had been withheld by all parties involved.

A similar cocoa-backed $800 million facility arranged for Ghana by its cocoa marketing board attracts an interest of 8 percent per annum.

Bilateral lenders, such as the International Monetary Fund (IMF), would typically charge 1-3 percent with a longer tenor.

In the details seen by TheCable, Nigeria pledged a total of 164.25 million barrels of crude oil — at 90,000 barrels per day — starting from 2024 to repay the loan through Project Gazelle Funding Ltd, an “orphan” special purpose vehicle (SPV) incorporated in Bahamas for the PxF.

Effectively, the NNPC has pledged 38.58 percent of five years’ worth of tax and royalty oil to secure the loan.

Nigeria pledges over $12 billion worth of oil
At the beginning of 2024, a barrel of Nigerian oil was sold at the international market at $77.93 per barrel, according to the Central Bank of Nigeria (CBN) data.

At $77.93 per barrel, the 164.25 million barrels of oil pledged by Nigeria equals $12.8 billion — about three times more than the facility taken.

Pre-2014, the national oil company used to remit an average of $3 billion from oil sales every month.

Officially, Project Gazelle Funding Ltd (PGFL) is the borrower while the NNPC is the “sponsor” and will pay with oil to the SPV to liquidate the loan.

To make the repayment, the NNPC will forward-sell 90,000 barrels per day of Nigeria’s share of offshore crude oil under the production sharing contract (PSCs) with the oil companies.

Under PSCs, the companies usually pay royalties and taxes by giving the oil equivalent to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Federal Inland Revenue Service (FIRS) respectively.

The NNPC in turn exports the oil on behalf of NUPRC and FIRS and remits the proceeds to the agencies.

This is part of the revenues paid into the federation account and shared by the three tiers of government.

But under the PxF, the revenue from 90,000 barrels per day will be used to service the loan in the next five years.

The loan arrangers will get a commission of $66 million or 2% of the facility, TheCable further learnt.

Nigeria will pay 2 percent penalty per annum in the event of a default.


‘DOLLAR LIQUIDITY TO STABILISE THE NAIRA’

The national oil company announced in August 2023 that the PxF was to support the federal government “in its ongoing fiscal and monetary policy reforms aimed at stabilizing the exchange rate market”, describing it as “a relief for the naira”.

It called the facility “crude oil repayment” with an upfront cash loan “against proceeds from a limited amount of future crude oil production”.

At the time, the dollar exchanged for an average of N775 in the official market and N885 on the streets.

The rates have now moved to N1,035/$ (official) and N1,230/$ (parallel).

Nigeria’s outstanding forex liabilities are currently thought to be over $7 billion.

In an explainer after announcing the PxF last year, the NNPC said its exposure is very limited, “covering just a fraction” of their entitlements and that “there are no sovereign guarantees tied to it”.

It said it “will also equip the Federal Government with the necessary dollar liquidity to stabilize the Naira, with limited risk”.

A strengthened naira as a result of the initiative, it said, “will lead to a reduction in fuel costs. This means that if the Naira appreciates in value, the cost of fuel will drop and further increases will be halted”.

It also ruled out subsidies, maintaining that a stronger naira “will result in lower prices from the current level, making subsidies unnecessary. The deregulation policy remains unchanged”.

Critics questioned NNPC’s involvement in getting loans to boost forex reserves when it should be concentrating its efforts on bringing in more oil revenues.

There were also questions over the decision to pledge the tax and royalty oil belonging to the entire federation to secure the loan.

Analysts also queried why the details of the deal were never made public.

https://www.thecable.ng/exclusive-nigeria-to-pay-11-85-interest-on-3-3bn-afriexim-nnpc-loan-pledges-164m-barrels-as-security/amp

yarimo:
And yet No any single quality projects in Abia state, Alex otti only mission as governor is to defraud the state completely

😂

Except 500m of road that he resurfaced. Even Elon Musk's AI knows that Otti is overhyped. 👇👇

But he used the money to transform Abia State. What did you do with yours other than embezzle it?

yarimo:
And yet No any single quality projects in Abia state,

Alex otti only mission as governor is to defraud the state completely

So what is the only mission of the Lagos TAX monster planner with the 100 times increase in budget without ordinary water supply to all households?

Something worse than defraud




https://www.youtube.com/watch?v=g5v-F81hNTs

This man talks like illite*rate sha.

Does the money you got 20 years ago has same value as of today?

How much was 1litre of fuel as of 1999-2007?

When you was a governor, nigerians can use ₦20 for short distance transportation which can equate to ₦200 today.

When you was governor, many fairly used cars was below ₦1,000,000. Same quality of cars can't be purchased with less than ₦8,000,000 today.

See as some funny APC supporters from SW are applauding him. Later they will wonder why Nigerians hate tinubu while they contributed to the hate tinubu receives from Nigerians today by always supporting rubbish.

The roads that you claimed that he is repainting and reconstructing, were they motorable? Bad belle people everywhere.
Before now, it used to Aba is a dumbsite and kerosene sharing state, but the narrative has changed now.
You people should leave our state for us oh

osuofia2:
What I see mostly is the repainting and rebuilding of roads constructed during my administration. I have not seen major new roads of the scale we undertook,” he stated.

Dispute this, show us the road Otti started and completed

Meaning that there are “levels to this thing” right ?