- As Deltans Grumble Over Rising Debts Without Commensurate Projects
In spite of the humongous allocation inflows totalling well over N163 billion in the first half of 2022, Delta State is infamously occupying the second position as the most indebted state in the country with a domestic debt of N378,878,236,830.76 as at June 2022.
Information obtained from the website of the Debt Management Office of the federation, DMO, confirmed that Delta State placed second among the most indebted states in the country, only next to Lagos, which leads with a domestic debt of N797,305,312,602.53 in the period under review.
The DMO also confirmed that, of the total debt of N378,878,236,830.76 owed by Delta State for the period under review, the PDP government led by Senator Dr Ifeanyi Okowa actually borrowed the sum of N215,399,782,571.00, between March and June 2022, more than 100 per cent of the debt stock of N163,478,454,259.54 accumulated between January and March, this same year.
The New Diplomat’s investigation however confirmed that while the Lagos State government has embarked on ambitious gigantic projects such as the 37 kilometres multi-billion Red Line Rail project amongst others, in Delta State there is apparently nothing on the ground to justify the humongous indebtedness which Okowa has amassed for the people of the state to pay in the future.
Reacting to the DMO’s latest release on the State of domestic debts owed by the 36 States and the Federal Capital, Abuja, a concerned Deltan and Kwale-based Hotelier, Chief Ogbefi Okafor Imo, in a chat with The New Diplomat, described the level of indebtedness of the state as worrisome.
According to him, unless Deltans will rise up en masse to oppose the wasteful government, the debt portfolio of the State will be near a trillion-naira mark by May 28, 2023, when Okowa will leave the stage.
Ogbefi Okafor Imo advised Civil Society Organisations, CSOs and well-meaning Deltans to be on the watch out to checkmate Okowa and the leadership of the Delta State House of Assembly from obtaining more loans that will bankrupt the economy of the state before they leave in May 2023.
“The manner the State Governor, Dr Okowa is borrowing loans in the state in spite of the fact that we receive the highest monthly allocations in the country is not only alarming but most worrisome.
“How can the governor explain what he did with a third of a trillion-naira debt stock he amassed within the first half of 2022?
“Deltans and CSOs must rise up and challenge the governor and the State House of Assembly which has become a willing rubber stamp for the government to continue to take more loans for them to execute their political plans.
“The way and manner in which Okowa is going, the state will end up being in debt up to the N1 trillion mark by May 29, 2023, when his tenure will expire”, he warned.
Also speaking, a Warri-based businessman and social human rights activist, Olorogun Mike Onojighofia condemned in strong terms the unenviable position of the state among the comity of highly indebted states in the country.
He lamented that in spite of its leading position as the highest revenue-earning state in the country in the past seven years, there is nothing on the ground to show other than bad roads, dilapidating school buildings, unemployment and hunger, urging Deltans to come out en-masse and vote out the PDP government from the state come 2023.
“We can’t continue to live by the bank of the river and be washing our hands with spittle. It is high time the wasteful PDP government in the state is voted out otherwise, debt will choke all of us to death”, he said.
The New Diplomat investigation revealed that whilst states like Ebonyi, Borno and others with very small revenues are commissioning mega projects, the Delta State government is commissioning primary schools and a few roads that peel off weeks after commissioning.
