Abia State Governor Alex Otti recently addressed national economic policies, state financial management, and the preservation of Nigeria's historical archives during a media interview and a public event in Abuja.

Economic Policy and Petrol Subsidy

Governor Otti strongly defended the removal of the petrol subsidy, asserting that subsidizing consumption promotes inefficiency, waste, and corruption rather than productive growth. Reflecting on past writings from 2020, he argued that citizens become more mindful of resource consumption when bearing the actual costs. Furthermore, he emphasized that government funds should instead target infrastructure and systems that facilitate business operations.

Addressing the electricity sector, Otti noted that industrial producers do not require energy subsidies as much as they need a reliable and steady power supply. He stated that businesses are willing to pay standard rates if consistent electricity is guaranteed.

Political Stance

As a member of the Labour Party, Otti clarified his political alignment regarding the presidency. While acknowledging his commitment to supporting his own party's future presidential candidate, he explained that opposing President Bola Tinubu openly while serving within the broader framework of government would be counterproductive, maintaining that internal dialogue is preferable to public confrontation.

State Finances and Capital Expenditure

Highlighting his administration's financial strategy in Abia State, Otti reported that between 80% and 82% of the annual budget has been dedicated to capital expenditure over the past three years, leaving less than 20% for recurrent spending. This fiscal discipline allowed the state to invest heavily in critical infrastructure, including roads, schools, hospitals, and environmental initiatives.

Key financial highlights include:

• Governance Costs: Kept within 20% of total state expenditure, with salaries accounting for roughly 11.9% despite the adoption of the new minimum wage.

• Debt Reduction: The administration successfully reduced inherited liabilities—spanning contractor debts, pension arrears, and multilateral obligations—from N191.2 billion in 2023 down to approximately N48.4 billion, marking a nearly 75% decrease.

Preservation of Institutional Memory and Libraries

Speaking at the launch of the Endowment Foundation for the National Library of Nigeria in Abuja—where he was represented by Special Adviser Ugochukwu Okoroafor—Otti cautioned that neglecting national libraries undermines the country's institutional memory. He stressed that digitizing documentary and intellectual heritage is essential in the modern era of artificial intelligence.

Concluding his remarks, the Governor emphasized that maintaining schools and libraries requires a collaborative approach combining public funding, private sector innovation, and philanthropic support. National Library CEO Prof. Chinwe Anunobi noted that the new foundation was created to address ongoing funding challenges and safeguard the nation's historical records.