Abia State Governor, Alex Otti, has opened up about how his administration secures funds for executing key infrastructural projects within the state.
In a video shared by Politics Nigeria, the governor explained to journalists that his success in managing finances and driving development projects is rooted in what he termed financial engineering — a unique strategy he described as his personal trade secret.
Otti further added a cultural dimension to his explanation, noting that aside from financial tactics, he relies on what people in the Igbo-speaking parts of the Southeast refer to as “Otumokpo” or “juju” in African parlance, to attract funds for infrastructural development.
Responding to a question about the source of his government’s funding, the governor said: “Where is the money coming from? I keep getting this question and my response has always been that that is my trade secret, my own Otumopko.”
He elaborated: “It is called financial engineering, I don’t know if that makes sense to you. So when you are able to clap, you are also able to en-cash your goodwill. You know you have a track record that people believe that what you say, you will do.”
Otti went on to explain how his reputation for honouring agreements has enabled his government to move projects forward without immediate financial transactions. He cited the example of Julius Berger, a prominent construction company, which began road projects in the state without upfront payments because of the trust built through his administration’s track record.
“So I am able to call Julius Berger and say start work without giving them a dime. At least I am not the one saying this; the former managing director who left in December 1. When he was introducing his successor to me, I brought him to Abia and confessed that this was the first time since the 60s that a state government would hire them and get them to flag off a road and get them to mobilise to a site, to start work without receiving a dime.”
The governor added: “But then he added that the payment schedule I gave them, that I didn’t only keep to it but I did it faster and paid them more than what we agreed in three to four months.”
According to Otti, building a solid track record is key to sustaining trust with contractors and stakeholders, as it assures them of his capacity and commitment to deliver.
He concluded: “So that is what track record does, so tomorrow if I call them and say go and start another job, I am sure they will be willing to that. So other than that, the rest is my own Otumokpo that you will have to live with me.”
