Former Minister of State for Science and Technology, Hon. Chief Henry Ikechukwu Ikoh, has commended President Bola Ahmed Tinubu for approving a $125 million loan for the Abia State Government, describing it as a gesture of goodwill aimed at driving infrastructural development.

Speaking in Owerri, Imo State, during a meeting with members of the APC Stakeholders Forum of Abia State, Ikoh urged Governor Alex Otti to ensure transparency and accountability in the management of the funds.

He stressed that loans are a debt burden that must be repaid, cautioning against favoritism, politicization, or mismanagement in awarding contracts under the loan facility.

“The government of Abia State should reconsider the application of the loan with the issuing financial institutions to accommodate investments in manufacturing and productive sectors,” Ikoh advised.

“This will guarantee repayment of the loan, create sustainable jobs, and improve the state’s revenue base.”

Ikoh, an APC governorship hopeful in Abia, further observed that details of the loan agreement have not been made public. He called on the government to disclose the terms and repayment timeline for the sake of accountability.

While acknowledging Abia’s urgent need for infrastructure, he argued that channeling the entire loan into non-revenue-generating projects could prove counterproductive. He urged that part of the funds be directed towards agro-allied industries and small-scale enterprises, noting that Abia State has vast agricultural potential that could boost foreign exchange earnings.

“Investing part of the loan in agro-allied industries for export purposes will boost the foreign exchange earning of the state, making it easier to settle the amount borrowed,” Ikoh said.

The APC stalwart added that such an approach would expand production, create jobs, reduce poverty, and improve living standards for Abians, aligning with President Tinubu’s broader economic agenda.

“Abians cannot be made to bear the financial burden of repaying such an amount if it is misappropriated through reckless spending by the administration,” he warned.

Ikoh also called on the people of Abia and the South East to show appreciation to President Tinubu by supporting the APC and mobilizing for the party ahead of the 2027 general elections.

Vanguard reports that Governor Otti will clearing the air explained that the $125 million loan facility was purely for development purposes, and had no religious connotations whatsoever, contrary to misconceptions and insinuations in some quarters.