Abia Trains Debt Managers To Strengthen Public Debt, Financial Management

The Speaker, Abia State House of Assembly, Rt. Hon. Emmanuel Emeruwa, says recklessness in the spending and management of public finances has now been confined to the dustbin of history.

Rt. Hon. Emeruwa made the assertion while declaring open a three-day Capacity Building Workshop on Public Debt and Financial Management, facilitated by Jabee Analytic Global Concept Limited in collaboration with the Debt Management Office, Abuja, for officials of the Abia State Debt Management Office, holding in Umuahia.

Rt.Hon. Emmanuel Emeruwa – Speaker ABHA

The Speaker of the House of Assembly, who described the restructuring of government expenditure by the current administration as an example for subsequent administrations, revealed that the state lawmakers are alive to their responsibilities of keeping tabs on the spending of budgetary allocations by MDAs to ensure they align with the vision of the present administration.

“Now that we can manage our debts, we can boldly go to the Federal Government and ask for money to do so many things that we need to do. Nobody survives without borrowing.

Governments borrow, but it is what they use the money for that makes the difference,” the Speaker said.

He therefore charged the participants in the workshop to ensure the adequate deployment of the knowledge gained, as well as the implementation of decisions reached at the workshop, in the interest of the stability, growth, and development of the state.

Also delivering a goodwill message, the Member representing Isiala Ngwa North and South Federal Constituency and Chairman, House of Representatives Committee on Financial Crimes, Hon. Ginger Onwusibe, commended the Abia State Government for prioritising capacity building in public debt and financial management as he described prudent spending, fiscal discipline and transparency in the management of public resources as indispensable to sustainable development and effective governance.

Hon. Ginger .O. Onwusibe – HoR, Isiala Ngwa North & South

Hon. Onwusibe urged participants to maximise the opportunity provided by the workshop to strengthen their knowledge and professional competence, stressing that sound debt management and financial accountability are critical to maintaining public confidence, attracting investment and ensuring that borrowed funds are channelled into projects that deliver tangible benefits to the people.

In his opening address, the Commissioner for Finance, Hon. Uwaoma Ukandu, said the capacity-building workshop is in line with the promise of Governor Alex Otti, upon assumption of office, to bequeath a government founded on transparency, fiscal discipline, accountability, and sustainable human and capital development, pointing out that achieving modern infrastructure, an efficient healthcare system, quality education, and economic transformation would be a mirage without strong and virile fiscal foundations.

Hon. Uwaoma Ukandu – Commissioner For Finance, Abia State

Hon. Ukandu, who described the theme of the workshop, “Public Debt and Financial Management,” as both timely and significant, noted that governments across the globe are operating in an increasingly challenging fiscal environment due to inflationary pressures, fluctuating revenues, competing developmental priorities, and rising public expectations.

“Sound public debt management is not merely a technical or accounting function; it is a cornerstone of good governance. The manner in which we mobilize, manage, and deploy public resources determines the pace of development, strengthens public confidence, and ultimately improves the quality of life of our people. Let me state unequivocally that public debt, in itself, is not a burden. It is a strategic financial instrument. When prudently acquired, carefully managed, and productively invested, debt becomes a catalyst for development,” he said.

The Finance Commissioner, however, reminded the Abia State Debt Management Office of its role as custodian of the state’s fiscal integrity and the first line of defence against fiscal distress, as well as the need to maintain accurate data, carry out objective analysis, undertake comprehensive risk assessments, and make forward-looking projections for policy decisions.

Participants

Participants

Participants

Participants

Participants

Hon. Nnadozie Nwogwugwu (Right) – Mayor Isiala Ngwa South L.G.A

“To the participants, I charge you that over the next three days, you will be exposed to contemporary techniques in debt sustainability analysis, risk management, portfolio optimization, and emerging global best practices in public financial management. I encourage you to approach every session with intellectual curiosity and professional commitment. Engage actively, ask critical questions, challenge existing assumptions where necessary, and acquire the knowledge and skills that will strengthen your capacity to support evidence-based policy decisions,” he added.

Delivering his welcome address, the General Manager, Abia State Debt Management Office, Dr. K.O Nwaigburu, said the workshop was designed to deepen the participants’ understanding of contemporary debt management principles and practices, strengthen institutional capacity in debt recording, debt reporting, debt sustainability analysis, and debt servicing, among other critical areas.

Elder K.O Nwaigburu, Ph.D – General Manager DMO, Abia State

According to Dr. Nwaigburu, prior to the coming on board of the administration of Governor Alex Otti, the debt management system of the state was near comatose. However, by elevating the DMO office to an agency of its own, there have been remarkable achievements in various areas, including improved collaboration with the National Debt Management Office and prudent fiscal discipline, which has led to the historic and drastic reduction of the state’s debt profile from N191.2 billion in 2023 to about N48.3 billion in 2026.

“Through prudent fiscal discipline, improved revenue management, progressive debt repayment, and responsible financial management, the Government has successfully repaid approximately N142.9 billion, leaving a balance of approximately N48.3 billion. This amount stands as the accrued liabilities for pensioners’ gratuities over the years.

“But let me shock you at this hour; His Excellency the Governor has approved this outstanding amount of gratuities to be paid off. This remarkable feat earned Abia State national recognition as Nigeria’s leading state in debt reduction covering 2023–2025,” Dr. Nwaigburu said.

The Abia DMO General Manager equally used the forum to inform the public that the agency has developed a policy framework known as the Debt Management Policy Framework to guide its decision-making while also taking charge of maintaining and updating the Medium-Term Debt Management Strategy (MTDMS) 2024–2027.

He therefore appreciated the Governor, Dr. Alex Otti, the Speaker of the State Assembly, Rt. Hon. Emmanuel Emeruwa, the Commissioner for Finance, Hon. Uwaoma Ukandu, the Commissioner for Budget and Economic Planning, Mr. Kingsley Anosike, the Accountant General of the State, Dr. Njum Uma-Onyemenam and all the staff of the Abia DMO for their support, supervisory roles, invaluable contributions and cooperation.

The three-day Capacity Building Workshop featured a wide range of lecture topics delivered by different resource persons, including the Permanent Secretary, Ministry of Health, Dr. Ifeyinwa Uma-Kalu, Mr. Joe Ugoala and Mr. Maraizu Nwankwo, who are Directors in Jaybee Analytic Global Concept Ltd; Mr. Greg Anowuru, Dr. Fynboy Joseph among others as well as quiz competition and presentation of certificates of participation.

Resource Persons From The Facilitators Jaybee Analytic Global Concept Ltd & DMO Abuja