The Abia State Government has released its Q2 Financial Report for April–June 2025, now accessible via its official website, abiastate.gov.ng. The report reveals a significant spike in external loans, raising transparency concerns about the fiscal management of Governor Alex Otti’s administration.
According to the report, Abia received N114 billion in total revenue during Q2 2025, up from N84 billion in Q1, largely due to increased federal allocations. The monthly average allocation stood at N38 billion, while Internally Generated Revenue (IGR) dropped to N13.2 billion, compared to N14 billion in Q1.
Personnel costs, including salaries and pensions, remained at N14 billion for the quarter. However, what remains unclear is how the government spent an additional N33 billion monthly, beyond salaries and pensions.
More notably, the report shows N75 billion spent on capital projects in just three months, yet the specific projects accounting for this expenditure have not been detailed. Under “Capital Development Fund Receipts,” the report shows N287 billion received from loans, grants, and donations, indicating a sharp rise in financial inflows.
Surge in External Loans
A comparison of Abia’s external loan profile shows a steep increase:
• 2023 (Pre-Otti): N80.09 billion
• As of December 31, 2024: N155.80 billion
This reflects a N75 billion increase in external debt during the period, despite the administration’s public claims of paying down N78 billion in domestic debt.
Meanwhile, contractors, pensioners, and parastatal employees continue to await full payments of outstanding arrears. For instance, ABSU lecturers, owed 11 months of salary arrears, have reportedly only received partial payments. In one case, a professor owed N400,000 per month received only N200,000, even though the full amount was reported as paid to the Debt Management Office (DMO).
Breakdown of Notable Loans (as of 2024):
• Nigeria for Women Project – N14.675 billion
• Accelerated Nutrition Fund – N7.55 billion
• RAAMP (Rural Access & Agricultural Marketing) – N5.58 billion (up from N3.09 billion in 2023)
While many of these are legacy loans initiated before May 2023, the increase in disbursements is tied to rising exchange rates and loan recalibrations.
Lack of Visible Impact
Despite the large inflow of funds including post-subsidy removal interventions from the Federal Government the promised economic relief and capital development remain elusive. Residents and observers continue to ask: Where are the projects that justify these billions in spending?
Questions of Transparency
Instead of addressing these financial concerns, the state government’s communication team has often responded with personal attacks. For an administration hailed as technocrat-driven, the ongoing lapses in financial transparency and accountability are troubling.
As the public awaits further sectoral breakdowns of Q2 performance, vigilance remains crucial. These numbers are not mere statistics; they reflect how public funds are being managed and the economic future of Abia.
Let’s stay alert. These details matter.
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