Source: Vanguard

ASABA—DELTA State governor, Dr Ifeanyi Okowa, yesterday, decried the financial position of the state and disclosed that the government had over N636 billion debt, including contractual obligations, to contend with in the next three years.

Addressing the state legislature, Okowa said: “A total monthly deduction of N4.60 billion will be made from our FAAC receipts with effect from this June through to March 2017, and thereafter N1.098 billion monthly until September 2018. ‘’This leaves us with a balance of N3.4 billion assuming the FAAC allocation stays at N8.03 billion. “The receipt from Internally Generated Revenue, IGR, is about N2.0 billion monthly, after deducting cost of collection.

“The implication of the above scenario is that the funds available to run the state is N5.40 billion monthly in the next two years, except there is a significant rise in oil receipts and therefore FAAC earnings, as well as our IGR. “Unfortunately, the available fund of N5.40 billion is insufficient to offset our monthly wage bill, let alone fund overhead costs or for government to embark on capital projects. The state workforce as at May 28, 2015 stood at over 60,000 persons with a monthly personnel cost of N7,437,940,015.38 inclusive of the N678m state government’s support to local government councils for the payment of primary school teachers’ salaries.”

The governor lamented that the 2015 budget of N409 billion as passed by the legislature, was no longer realistic in the wake of current realities which clearly showed that their expected revenue was now far below what was projected. While calling for a review of the budget, Okowa said: “It is obvious from available statistics that the state will run a monthly deficit of about N2 billion, and would need to borrow to pay salaries of its workers and finance the running cost of government.

“Prior to my assumption of office, the state government had been hard put to pay workers’ salaries. Ministries, Departments and Agencies of government have been running at half steam due to the inability of the state to provide money for their operations. ‘’The staff of most local governments in the state have been on strike due to non-payment of salaries.”

Continuing, the governor, who was accompanied by his deputy, Mr Kingsley Otuaro, SSG, Mr. Festus Agas and the State Head of Service, Mr Patrick Origho, said further: “This is the dilemma that we face as we strive to deliver on our campaign promise of prosperity for all Deltans. ‘’I have gone into this much detail regarding the state of our finances to put the legislature on the same page with the executive, so that we can think together, plan together and tighten our belts going forward.

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- See more at: http://www.vanguardngr.com/2015/06/i-inherited-n636bn-debt-okowa/#sthash.kdii2s3X.dpuf

SOS...
Same old Story!

Nawa oh! Nigerian politicians sef, wetin hin use all the FG allocations do nah??

Ok Mr okowa!
Just Pay it

Hmm...

I thought Uduaghan supported Okowa all the way?

Isn't he supposed to cover up for his godfather or something like that??

Just like Ikpeazu is doing for Theodore Orji

.... Contd.

“We must muster the resolve and political will to boldly and decisively confront the challenges that we face, right the ship of our state and lay a solid foundation of prosperity both now and for future generation of Deltans. ‘’It won’t be easy. It is not supposed to be easy. But there is no gain without pain, no prize without a price. Sacrifices “A good place to start is for us to reject the old ways of doing business.

First, beginning with me and this honourable House, we must be ready to make the necessary sacrifices to reduce the cost of governance.

‘’Secondly, the endless turf battles and approach to legislative action would need to give way to civility and respect for each arm of government.

Thirdly, the House must make laws that protect and promote the interest of the state and our people.

‘’Fourthly, we must act with the sense of urgency that our current situation demands, and navigate the ship of state aright.

“I have already directed the Ministry of Finance and the Accountant-General to restructure the Irrevocable Standing Payment Orders, ISPOs, on contractors’ guarantee and overdraft facility over a period of 42 months as a first step to reduce our monthly exposure."

“We are frantically working at putting the necessary machinery in place to boost our IGR, and steps will be urgently taken to plug the loopholes in our revenue collection process. In our land resource management, action will be taken to re-certify Certificates of Occupancy (C of O) beginning with our urban settlements, while MDAs will be made more accountable in the generation of revenue.”

Oboy

EFCC! Over to you.


He should be made to state what he spent every kobo on.

My father, My father.

Call a Spade a Spade and not a farm tool.
Daura President am refering this to you.
This is how to be blunt as well as precise not running around like a mad man.
I have atleast 1Million in my bank account.
I met virtually empty treasury.
I have declared my assets.
If the Old tasteless wine is a man of integrity he should have made everything clear and public just like Uduaghan's Successor just did.
I don't blame the Kwunu drinking bastard his brain is dead afterall

Oh my state
What did uduaghan do with this money?
Delta is far behind in terms of development
No real development but money is bn borrowed,
Even if we don't vote them, they will still b declared as d winners, when will this stealing stop
Efcc over to u
Buhari shey u promise to fight corruption? here is a good chance for u to win some supporters over to ur side

Kennywills7:
Oh my state
What did uduaghan do with this money?
Delta is far behind in terms of development
No real development but money is bn borrowed,
Even if we don't vote them, they will still b declared as d winners, when will this stealing stop
Efcc over to u
Buhari shey u promise to fight corruption? here is a good chance for u to win some supporters over to ur side

Yet the state Voted Jonathan and PDP.
Can anyone tell me the difference between what uduaghan did to delta and what Jonathan did to Nigeria.
Lagos size budget but you can fit all his projects and responsibilities into surulere.

oduastates:



Yet the state Voted Jonathan and PDP.
Can anyone tell me the difference between what uduaghan did to delta and what Jonathan did to Nigeria.
Lagos size budget but you can fit all his projects and responsibilities into surulere.

Pls let's not bring Jonathan into dis!

Just one month as governor,Okowa is renovating his personal house at Agbor(wey nothing do).He is now putting marble facade as the exterior design yet there is no money in the state.
Both Uduaghan and Okowa are birds of a feather with Ibori as mother bird.
Delta state is cursed when it comes to political leadership.

We reject the curse of bad political leadership in Delta State. Okowa should explain how he came about this 636bn debt, Uduaghan too should be made to explain how much debt he left behind.

What kind of nonsense is this?

And this is said to be one of the PDP best former governor. !!!

sammyj:
And this is said to be one of the PDP best former governor. !!!

Please no one said udaughan was a good governer at all...well maybe except the press publications he bought..but no Deltan will tell you that

If others could cry out like this man,it will be better 4 our democracy even though they are 4rm same party.But I hope it's not bcs Oduhagan did not support his ambition ab initio.EFCC gats a lot of work to do....Holycrown say so

sammyj:
And this is said to be one of the PDP best former governor. !!!

The Lagos newspapers like Sun, Punch, Vanguard, etc said so not Delta people.

Even more progressive ones like Leadership and This Day joined the gravy train of heaping awards on ex-Gov Uduaghan

Neduzze5:
Hmm...
I thought Uduaghan supported Okowa all the way?
Isn't he supposed to cover up for his godfather or something like that??
Just like Ikpeazu is doing for Theodore Orji

Yea.. as well as Ambode for Fashola...

This one don pass be careful. This is abominable

Why is this op angry at people receiving awards?

Na wa o.

cuteboy2:


Uduaghan carries the cup as the most curropt governor in the last dispensation.

He bought the press, and every conceivable award, real or imaginary. He doled out the cash and the press (principally, Sun and Vanguard) obliged him bogus "awards".

Some Analysis:

Gov Uduaghan left took a loan of N636b.

Assuming he has been paying 50% of that amount in interests and capital, that means Delta was overburdened with a debt of at least N1.2trillion

Delta had some the highest allocations from FAAC. Monthly net allocation (including 13% and VAT) = N10b. Annually, this amounted to N120 billion. For the 8 years he was in power, Delta got N960billion from Federation account.

When you add the amount borrowed to the FAAC allocation, Delta under Gov Uduaghan got (wait for it):
N1.2trillion + N960billion = N2.2 trillion.

At today's average exchange rate of 1$ : N200, the N2.2 trillion = $10.8 billion

There is absolutely nothing on ground in Delta State to show for such huge resources expended by Uduaghan.

Sad aspect about all this that Deltans known to be very vocal and assertive are plodding along like zombies. Nobody raises a whimper to ask a simple question. WHERE DID ALL THE MONEY GO

#ShameOnDeltans

Funny enough, Lagos state's Total debt is N435 billion

Lagos state with 20 million people and the 2nd largest workforce in Nigeria pays out N6 billion in wages every month so why is small Delta state with Total population/Less than 5 million paying out the same wage bill amount like Lagos state.? Scheming and ghost workers of course..



There are countless projects on the ground to justify Lagos state's debt of N435 billion with, but what's on the ground in Delta state to justify their N636 billion debt with? Nothing....

aresa:



Funny enough, Lagos state's Total debt is N435 billion

Lagos state with 20 million people and the 2nd largest workforce in Nigeria pays out N6 billion in wages every month so why is small Delta state with Total population/Less than 5 million paying out the same wage bill amount like Lagos state.? Scheming and ghost workers of course..



There are countless projects on the ground to justify Lagos state's debt of N435 billion with, but what's on the ground in Delta state to justify their N636 billion debt with? Nothing....

Real Shame, Okowa should look into the staff wage bill, many of those may be ghost names, some of them may just be on payroll and do not do any work.

Uduaghan, where is Delta's money

$10.8billion is not chicken change oooooooo

I thought dis guy was doing wonders because I use to c him sharing awards with performers such as fashola wamakko and kwankwaso

gwales:
I thought dis guy was doing wonders because I use to c him sharing awards with performers such as fashola wamakko and kwankwaso

For where

It was all a grand deceit. The guy simply put on a grand ploy to deceive and buy good image for himself. Projects and achievements cannot be hidden. If you go to Akwa Ibom, Rivers or Lagos you will see evidence of good governance.

Have you ever travelled to Warri or Asaba? Every of his achievements in in paid adverts, pull-outs and arrange awards

Where are all the pressmen, including Uncle Animashaun of Vanguard that were chopping Delta state money and feeding the public with lies?

Come out and defend your benefactor

cuteboy2:

Where are all the pressmen, including Uncle Animashaun of Vanguard that were chopping Delta state money and feeding the public with lies?

Come out and defend your benefactor

Name them one by one

And So what? Who this wan dey rake 4? Is uduaghan dead? Go and probe him and find out where the money went 2 and why the debt profile is so high, not 2 dey come dey yarn dust everyday 4 paper and tv! Or na the fishes for delta swamps and rivers borrow the money? Nonsense! All talk no action!