Why some Abians do not see a strong economy nor trust the government
Abia State’s economy is also influenced by psychological factors, national trends and development strategies. A decade-long stagnation in teachers’ motivation due to unpaid salaries and sometimes zero compensation for retiring colleagues cultivated economic uncertainty, and diminishing trust in government support.
We are aware that Nigeria’s economic fluctuations in the last decade impacted Abia, affecting its stability. For instance, key indicators include a 23.74% urban inflation rate, exceeding 18.24% in May 2022, and a 21.20% Consumer Price Index increase over 12 months.
This is in spite of the fact that Abia’s 2024 budget is N567.24 billion, representing a 71.7% increase from 2023. This significant boost demonstrates the government’s commitment to development and growth. The National Development Plan 2021-2025 guides Abia’s economic growth, building on Vision 20:2020 and the Economic Recovery and Growth Plan.
Recovery from prolonged economic stagnation requires patience, consistent policy implementation and stakeholder engagement. Addressing psychological barriers, fostering trust and demonstrating tangible improvements in teacher welfare, infrastructure development and private sector empowerment will propel sustainable growth.
Economic uncertainty persists due to prolonged salary delays and national economic fluctuations. However, Abia’s growth potential is fueled by increased budget allocation, women’s economic empowerment and infrastructure development, with increased educational attainment, enhanced decision-making participation and bank account ownership.
It seems that under Otti’s administration, Abia’s progress will hinge on transparent communication, trust-building and tangible improvements. Sustained efforts will reinvigorate economic confidence, propelling the toward sustainable growth.
Dr Chukwuemeka Ifegwu Eke writes from University of Abuja Nigeria
