{"id":234417,"date":"2025-08-15T07:18:52","date_gmt":"2025-08-15T07:18:52","guid":{"rendered":"https:\/\/abianewscentral.com.ng\/otti-applauds-tinubu-as-abia-secures-125m-isdb-facility-for-infrastructure-drive\/"},"modified":"2025-08-15T07:18:52","modified_gmt":"2025-08-15T07:18:52","slug":"otti-applauds-tinubu-as-abia-secures-125m-isdb-facility-for-infrastructure-drive","status":"publish","type":"post","link":"https:\/\/abiaradiostations.com.ng\/news\/otti-applauds-tinubu-as-abia-secures-125m-isdb-facility-for-infrastructure-drive\/","title":{"rendered":"Otti Applauds Tinubu As Abia Secures $125m IsDB Facility For Infrastructure Drive"},"content":{"rendered":"

Otti Applauds Tinubu <\/a>As Abia <\/a>Secures $125m IsDB Facility For Infrastructure Drive
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Abia <\/a>State Governor, Dr Alex Otti, has hailed the Federal Executive Council\u2019s approval of a $125 million Islamic Development Bank (IsDB) facility for the Abia <\/a>State Integrated Infrastructure Development Project (ABSIID), describing it as \u201ca direct complement to the visionary infrastructural development agenda\u201d of his administration.<\/p>\n

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The approval, granted at FEC\u2019s meeting on Wednesday, 13 August 2025, forms part of a $263.80 million co-financing package aimed at modernising Abia\u2019s road networks, tackling erosion challenges, and revitalising its urban centres.<\/p>\n

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The financing arrangement comprises $125 million from the IsDB, $100 million from the African Development Bank (AfDB), $15 million from the Canada\u2013Africa Development Bank, and $23.80 million in counterpart funding from the Abia <\/a>State Government.<\/p>\n

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While the AfDB and Canada\u2013Africa Development Bank agreements have been finalised\u2014 with the AfDB loan signed earlier this year, the IsDB facility is considered essential to unlocking the full funding for the project, given the integrated structure of the financing.<\/p>\n

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Under the IsDB-backed component, the project will deliver approximately 126 kilometres of road network in Aba and 35.57 kilometres in Umuahia, including a link road between the two cities, alongside critical erosion control works.<\/p>\n

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According to the Abia <\/a>State Government, once completed, the project will: reduce travel time in Abia\u2019s busiest corridors, create over 3,000 jobs for local residents, reduce greenhouse gas emissions, improve access to social services and attract private sector investment.<\/p>\n

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Governor Otti in a press statement signed by his Chief Press Secretary, Ukoha Njoku Ukoha, expressed gratitude to President Bola Ahmed Tinubu \u201cfor his trust and pragmatic leadership\u201d, the National Assembly \u201cfor approving the borrowing plan\u201d, and the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, \u201cfor his leadership in concluding the financing process\u201d.<\/p>\n

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He also thanked the Secretary to the Government of the Federation, the Attorney General of the Federation, and the Vice President of the IsDB, Dr Mansur Muhktar, \u201cwho not only reached out in November 2023, but saw to it that internal approvals were received on the request for the facility\u201d, as well as other stakeholders involved.<\/p>\n

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\u201cThis landmark project will complement my administration\u2019s ongoing infrastructural development initiatives, aimed at modernising Abia\u2019s transportation network, revitalising urban centres, and positioning the State as a hub for sustainable economic growth<\/em>\u201d, Gov Otti said.<\/p>\n

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The project will be executed through the State Ministry of Works under the supervision of a State Steering Committee, which will guide the State Project Implementation Unit (SPIU) and other stakeholders. Procurement for the IsDB-financed components will follow the Bank\u2019s guidelines, with payments made directly to contractors and consultants.<\/p>\n

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Otti Applauds Tinubu As Abia Secures $125m IsDB Facility For Infrastructure Drive \u00a0 Abia State Governor, Dr Alex Otti, has hailed the Federal Executive Council\u2019s approval of a $125 million Islamic Development Bank (IsDB) facility for the Abia State Integrated Infrastructure Development Project (ABSIID), describing it as \u201ca direct complement to the visionary infrastructural development […]<\/p>\n","protected":false},"author":1,"featured_media":234418,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[176],"tags":[],"class_list":["post-234417","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-abia"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"amp_enabled":true,"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/abiaradiostations.com.ng\/news\/wp-json\/wp\/v2\/posts\/234417","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abiaradiostations.com.ng\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abiaradiostations.com.ng\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abiaradiostations.com.ng\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/abiaradiostations.com.ng\/news\/wp-json\/wp\/v2\/comments?post=234417"}],"version-history":[{"count":0,"href":"https:\/\/abiaradiostations.com.ng\/news\/wp-json\/wp\/v2\/posts\/234417\/revisions"}],"wp:attachment":[{"href":"https:\/\/abiaradiostations.com.ng\/news\/wp-json\/wp\/v2\/media?parent=234417"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abiaradiostations.com.ng\/news\/wp-json\/wp\/v2\/categories?post=234417"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abiaradiostations.com.ng\/news\/wp-json\/wp\/v2\/tags?post=234417"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}