Between Governor Ikpeazu and Alex Otti, who is a prudent financial manager?

Mr Alex Otti of APGA, during the 2015 campaign period, told Abians he has secured $100billion loan to develop Industrial park at Aba. Today, the same Otti is shamelessly seeking the stoppage of $200m loan for the development of the whole of Abia state...

Otti wanted to borrow $100b for Aba industrial park alone, while Ikpeazu is asking for just $200m for the entire Abia... judge for yourself, who is more prudent between Otti and Ikpeazu...

God will keep exposing desperate power seekers and liars like Otti.

APGA Candidate Alex Otti attracts 100 billion dollars grant to build industrial park in Aba

Wednesday February 18, 2015

Governorship candidate of the All Progressive Grand Alliance (APGA) in Abia State, Alex Otti, said he has attracted International Finance Corporation’s (IFC)’s grant of $100 billion for an industrial park in Aba.

The APGA governorship candidate has also promised to recall the non-indigenes in the Abia State civil service sacked by the present administration.

Otti, who stated this on Monday while presenting his manifesto at a political event organised by the Aba Chamber of Commerce Industry Mines and Agriculture in Aba, explained that the money would be accessed as soon as he becomes governor of the state.

He informed his audience that the grant from IFC was structured in such a way that it would not suffer depreciation as a result of the fluctuations in the exchange rate.

Otti who equally addressed members of the Aba Sports Club afterwards also said the commercial town would soon begin to enjoy uninterrupted power supply with the completion of the Geometric Power Plant in Osisioma, near Aba, which is awaiting inauguration by President Goodluck Jonathan.

He recalled how in 2009 he, as the Group Managing Director/Chief Executive Officer of Diamond Bank, intervened when the construction of the plant suffered a setback due to the lack of funds and expressed delight that the project had been completed as efforts were being made to sort out outstanding issues delaying its inauguration.






He promised to tackle the infrastructure deficit in Aba, especially the deplorable road condition, blocked drainages and environmental challenges.

The APGA flag bearer said a special ministry would be created to re-design and rebuild Aba, adding that he had the international connection and integrity to access grants and investment from multinational organisations for the overall development of the state.

“There are multinational organisations with grants and aids tied to developmental needs, such as water, electricity, rural development and agriculture. But such monies will only go to people who have a track record of credibility and transparency,” he said.

Earlier in his speech, the President of the chamber, Chief Anthony Enukeme, said the forum was organised to afford the candidates the opportunity to showcase their manifestoes to the people.

A prominent member of the Chamber, Chief John Udeagbala, called on the people to rise to the challenge and work for a positive change in Abia by voting massively for Otti.

http://www.flatimes.com/2015/02/apga-alex-otti-attracts-100-billion-dollars-grant-build-industrial-park-aba.html?m=1

FOOTNOTE:

One of Alex Otti's social media aides, Mr Iroegbu Emenike, who is the publisher of Abia Factnews claimed yesterday that Otti actually meant to say that he borrowed $100m IFC loan (as private citizen?) on behalf of Abia state for use in development of "Aba Industrial Park" ONLY.

Assuming that was actually what Otti wanted to say, as against what was published (though he never personally denied $100b) then Otti must be a terribly poor financial manager.

1. Governor Ikpeazu is already developing an industrial park at Aba without borrowing from any bank.

2. Otti never stated his repayment plan then. Yet he is today asking Governor Ikpeazu about repayment plan as if he does not know that when you apply for loans you must provide a verifiable repayment plan before a facility is availed.
Was that man actually a good banker? No wonder Diamond Bank is still struggling to recover from the Otti years.

3. Check this out: Otti wanted $100m for Aba industrial park alone whereas Governor Ikpeazu got approval to borrow $120m for Abia roads, $50m for sanitation projects (including waste conversion plants at Aba, Umuahia, Isuikwuato and Ohafia) and the rest for erosion control projects at Abia North where Otti is from as well as Abia Central zones that are both erosion prone.


Shouldn't Abians thank God that Otti never made it to Umuahia government house?

Well the Presidency actually called Alex Otti "a dangerous misinformer".