NEWS
CIBN Hails Gov. Alex Otti’s Economic Reforms as Abia Records 10% GDP Growth, 8% Poverty Reduction, Over 10,000 Jobs, Expanded Healthcare, Free Education and Rising Investor Confidence
The Chartered Institute of Bankers of Nigeria (CIBN) has commended the Executive Governor of Abia State, Dr. Alex Chioma Otti, OFR, for the remarkable economic and social transformation recorded in the state under his administration.
The President and Chairman of the Council of the Chartered Institute of Bankers of Nigeria, Prof. Pius Olarenwaju, made this known on Thursday, February 5, when he led members of the institute on a courtesy visit to the Governor.
According to Prof. Olarenwaju, Abia State has, within a short period, achieved measurable economic milestones, including a 10 per cent increase in Gross Domestic Product (GDP), an eight per cent reduction in poverty, attraction of significant investments and the creation of over 10,000 jobs across key sectors of the economy.
“You have achieved, within this short time, notable economic progress, including a 10% GDP increase, 8% poverty reduction in this part of the country, an attraction of significant investment and creation of over 10,000 jobs.
“We have heard about it in the newspaper, but it is more glorious for us to see it and also go back to tell more people.
“So, we appreciate you, Sir,” Prof. Olarenwaju stated.
Beyond the economic indices, the CIBN President also praised the administration’s performance in the social sector, pointing to strengthened healthcare delivery, reduced mortality rates, the introduction of health insurance schemes and significant improvements in education infrastructure, anchored on the policy of free education.
He further acknowledged the ongoing road projects and other infrastructural developments across the state, describing them as clear evidence of purposeful and people-oriented governance.
Prof. Olarenwaju also commended the State’s Operation Crush security initiative, noting that it has enhanced safety, boosted youth confidence and stimulated economic activities.
Saluting Governor Otti’s long-standing contributions to the banking and finance profession, the CIBN Chairman informed the Governor that the institute plans to organise a major event later in the year to honour outstanding former bank chief executives for their impact on the Nigerian banking industry.
He described Governor Otti as a goodwill ambassador of the institute, noting that his administration’s transformative achievements have become a source of pride to the CIBN community. He maintained that the Governor is representing the institute well as one who made a mark in the banking industry and is now excelling in governance.
Prof. Olarenwaju also called for deeper collaboration between the CIBN and the Abia State Government in strategic areas such as financial literacy, financial inclusion, completion of the CIBN state office and infrastructural development, among others.
He disclosed that the institute is currently implementing a national programme targeted at training 10 million women and youths on financial inclusion, stressing that financial literacy remains the foundation of economic empowerment.
“We want the involvement of the State in this programme. I did mention when I talked to the press that there is a conditioned precedent to financial inclusion, and that is financial literacy,
“We are intentional about this and we will go ahead to do this,” Prof. Olarenwaju stated.
Responding, Abia State Governor, His Excellency, Dr. Alex Chioma Otti, OFR, reaffirmed his administration’s commitment to sustainable development and stronger institutional partnerships, particularly with the CIBN.
Governor Otti expressed readiness to deepen collaboration with the institute, describing the existing relationship as well established and fundamental to the state’s development agenda.
The Governor highlighted key accomplishments of his administration, including job creation, economic growth, poverty reduction, free and compulsory education, and improved healthcare delivery.
He revealed that the free education policy has resulted in over a 100 per cent increase in school enrolment across the state, adding that 5,394 teachers have already been recruited, while the process of employing an additional 4,000 teachers is ongoing.
Commending the CIBN’s efforts in curriculum reform, Governor Otti expressed interest in adopting the institute’s updated curriculum across state-owned tertiary institutions and appreciated its proposals for regional conferences, financial literacy programmes and broader collaboration.
“The institute’s programme on financial inclusion and financial literacy for members of the public is very important.
“You find that even for those of us who claim that we have some knowledge, we still find that in terms of investment, we make mistakes and those mistakes are not made deliberately, because we don’t know.
“So, I am very happy that you are doing that,” Gov. Otti stated.
The Governor was joined during the meeting by the Commissioner for Finance, Dr. Uwaoma Ukandu; Commissioner for Agriculture, Dr. Cliff Agbaeze, FCIB; the Accountant-General of the State, Dr. Mrs. Njum Uma-Onyemenam, FCA; the Mayor of Ukwuano LGA, Dr. Anthony Nzeribe Nwau
bani, and other senior government officials.