10bn Loan: Hope Uzodinma Worsening Imo indebtedness – Nwaete


By Frank Nwaete

On Wednesday 5th May, 2021, Gov Hope Odidika Uzodinma was guest on Channels TV Live POLITICS TODAY Programme by 7pm , hosted by Seun Okinbaloye.

He spoke on the topic, “Forestalling Recurring Security threats” in IMO State

Gov Hope Uzodinma announced that a 100 pieces of HILUX VANS has been procured and launched, to be distributed to all the security Agencies in the State with Security gadgets to be controlled from a Central Command Center!

That Government didn’t breach any budgetary Provision as the purchase was captured in the 2020 Supplementary Budget and 2021 Budget!

As good as that rhetoric sounds, though he didn’t disclose the Unit or total cost of the said HILUX VANS.

Trust Government and her Purchasing Power of Inflating Prices!

Be that as it may, just a day after that “launch” of the Operation Search and Flush (not EBUBEAGU), IMO MISINFORMATION Commissioner Lai Declan Mbadiwe Emelumba ironically announced that the Gov Hope Uzodinma Administration has borrowed “10 BILLION NAIRA”!

And according to Lai Declan Mbadiwe Emelumba Statement, the “10 BILLION NAIRA” was borrowed to finance the Construction of two major roads in the State!

That the Money will be paid directly to the Company handling the Road Construction!

And that the borrowed Sum will be paid back within ONE year from the date of it’s borrowing!

What an Irony or is it a Comic relief?

Or both.

Unfortunately, IMO State debt profile remains Stinky and absolutely nothing to write home about, yet a Government that prides itself as “Sharing Prosperity”and not impoverishing it’s Citizens continues to borrow and borrow at the detriment of the State and it’s Citizens.

Recall that shortly after the SUPREME COURT imposed the Gov Hope Uzodinma led Administration on the State , they openly and excitedly announced that they were saving “2 BILLION NAIRA” per Month from Workers Salaries against the hitherto “2.5 BILLION NAIRA” expended on same Workers Salaries.

To the extent that the Shared Prosperity Government Political Adviser Chief Batos Nwadike, went wild Live On Air on a Radio Programme and Courageously described IMO Civil Servants as “PILFERERS AND CRIMINALS” !

Which Apology from Chief Batos Nwadike, demanded by IMO Workers was never tendered till date

The Gov Hope Uzodinma Administration has spent 16 Months in Office and if 2 BILLION by 16, it will give a whooping 32 BILLION NAIRA !

So why borrowing “10 BILLION NAIRA” to finance “Two Major Roads Construction”?

Or is the “2 BILLION NAIRA” savings per Month another of the Gov Hope Uzodinma Administration numerous lies and deceit?

IAM really short of words and perplexed by the prevailing deceit of the highest ORDER !

I can’t understand why the IRONY!

There is indeed a limit to FALSEHOOD!

A People cannot be Continuously and Perpetually deceived!

Why borrow “10 BILLION NAIRA” which heavy interest of not less than 22% rate will be paid on top of, when We have been made to believe that “2 BILLION NAIRA” is “Saved” per Month!

Though Lai Declan Mbadiwe Emelumba failed to inform of the interest rate to be paid, it remains a SHAME on the Gov Hope Uzodinma”3R” Administration to continue to engage in an unhindered LIES and DECEIT!


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