Abia State infrastructure loan from IsDB will fund key roads, erosion control, and urban renewal, boosting Governor Otti’s development plans
Abia State infrastructure loan from the Islamic Development Bank (IsDB) has been hailed by Governor Alex Otti as a landmark boost for the state’s ambitious development drive.
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Otti expressed gratitude to President Bola Tinubu, members of the National Assembly, and key federal officials for enabling Abia to secure the \$125 million facility.
His appreciation also extended to the Minister of Finance, Wale Edun; the Secretary to the Government of the Federation; the Attorney General of the Federation; and IsDB Vice President, Dr. Mansur Muhktar.
According to a statement by his Chief Press Secretary, Ukoha Njoku Ukoha, the loan will fund the Abia State Integrated Infrastructure Development Project a critical component in a \$263.80 million co-financing plan that also includes \$100 million from the African Development Bank (AfDB), \$15 million from the Canada–Africa Development Bank, and \$23.80 million in counterpart funding from the state government.
The IsDB agreement is considered vital as its signing unlocks the full project implementation.
The AfDB and Canada–Africa Development Bank deals have already been concluded.
The project will deliver approximately 126 kilometres of road network in Aba and 35.57 kilometres in Umuahia, including a connecting road between both cities.
It also includes essential erosion control works.
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Executed through the State Ministry of Works and overseen by a State Steering Committee, the initiative is expected to modernize Abia’s transportation network, revitalize urban areas, and position the state as a hub for sustainable economic growth.
