The Commissioner for Budget and Planning in Abia State, Mr. Kingsley Anosike, has clarified that the Governor Alex Otti-led administration has not taken any loans since assuming office, relying instead on prudent management of resources and public trust.
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Speaking at a presentation of the “Citizens Version” of the 2024 budget in Umuahia, Anosike emphasized that while the state had projected a deficit of N319 billion to be serviced through loans, it had not rushed into drawing any credit facility.
Participants at the event, representing various sectors including traders, civil society groups, and traditional rulers, were briefed on the budget, themed “A New Beginning.”
The state’s budget proposal of N567 billion, the highest ever, allocates 84% to capital expenditure and 16% to recurrent expenditure, aiming to raise N248 billion from various sources, leaving the deficit.
Anosike revealed that though loans had been secured with favorable terms, including a 14-year moratorium, none had been utilized yet.
He underscored the administration’s commitment to transparency and accountability, with regular publication of quarterly reports.
Commissioner Mike Akpara echoed the commitment to financial responsibility, signaling an end to past financial recklessness.
The Head of Service, Dr. Queen Obioma, stressed the importance of accountability and public involvement in governance.
Participants commended the government’s efforts to engage the public and pledged support for ongoing development initiatives.
They urged the administration to sustain its transparency efforts and continue delivering on developmental promises.
