News

April 19, 2015

Outrage trails Enugu’s debt profile

By Francis Igata

ENUGU—Angry reactions have trailed the revelation,weekend, that Enugu State is among top 10 indebted states and most indebted in the South-East geopolitical zone.

Figures from the Debt Management Office, DMO, show that Enugu is indebted to the tune of N13.786 billion without domestic debts, to emerge the most indebted state in the South-East region.

This is apart from the N11 billion loan request which Governor Sullivan Chime had sought approval for from the Enugu State House of Assembly which the House hurriedly threw away last week, following protests from the people.

Fuming with anger, Enugu State chairman of  All Progressives Congress, APC, Mr. Ben Nwoye, said:  “The governor simply has mortgaged the future of Enugu State. Is this the price his successor has to pay?

“The governor has shown fiscal irresponsibility from the day he took office. He is leaving the state worse off financially than he met it. Chime’s administration’s penchant for borrowing without approval will drown whatever efforts that is geared towards developing the state.

“His successor will end up borrowing to service these loans, especially now that there is a decline in oil revenue.

“The last minute efforts by the House to question his financial recklessness, though belated, is worthy. We will rise against this impunity from May 29 when his immunity must have ceased to exist.”