The former Governor of Imo State, His Excellency, Rt. Hon.
EmekaIhedioha CON, has condemned the increasing level of indebtedness
resulting from unbridled borrowing by Hope Uzodinma led administration
in Imo State.
Speaking as the Special Guest of Honour at the Mbaise USA 13th Annual
Cinvention at Santa Clara, California, in the United States of
America, he said, statistics released in April this year, by the Debt
Management Office, DMO, shows that the debt profile of Imo State has
jumped to N205.19 billion, which means it has more than doubled from
the level he brought down the huge debt profile he inherited from the
previous administration.
The high indebtedness of Imo State, incurred in the last two and half
years, is cause for worry. This is because, while other states like
Lagos, Ogun, Rivers and AkwaIbom with the same level of debt profile
have robust economic activities, including significant internally
generated revenue to meet their loan obligations, Imo State is left
with, practically nothing to fall back on to support its loan
exposure. What this means is that the debt burden, without economic
activities to generate revenue, will continue to weigh the state down.
Hon. Ihedioha described the high indebtedness as man’s inhumanity to
man and a mortgaging of the future of the State.
The former Governor who used the opportunity to thank the people of
Imo State especially of Mbaise extraction also gave an account of his
7months stint as the Governor the State.
He said rebuilding Imo State was at the heart of his growth and
development initiatives. Of priority, he noted was the development of
the human capital Index, the economy and Infrastructure with special
interest in the rural areas.
Hon. Ihedioha who set up Technical Committees to harness potentials in
the State stated that he took steps towards enhancing the internally
generated revenue (IGR) thereby raising monthly revenue to over N1
billion (One billion naira) by blocking areas of leakage through the
introduction of Treasury Single Account, TSA, while reducing the
dubious debt profile of the state.
During his 7-month old administration, Chief Ihedioha says, short,
medium to long term contracts were awarded to redress the sorry state
of road infrastructure in the State.
To support rapid rural development, the former Deputy Speaker of the
House of Representatives stated that he ordered Caterpillars, Graders
and Pail loaders for each of the 27 Local Government Councils.
Above all, he said, was the restoration of the people’s confidence
through probity and accountability, full and regular payment of
monthly salaries and pension arrears without stretching the aged
beneficiaries for verifications in Owerri.
While speaking to over 2000 delegates from across the US, Europe and
Nigeria at the 13th Mbaise USA Convention in California, he assured
that if given an opportunity to preside over the affairs of the Imo
State again, he will be bold In redressing the developmental
retrogression in the state.