The governorship candidate of the People’s Redemption Party, PRP, Comrade Chris Agu, has condemned what he described as the piling of humongous foreign and local debts of N89. 89 billion local and $123.02 million foreign debts respectively saying that generations of Enugu people yet unborn would not complete repayment of the loans in the next 100 years.
He spoke in an interview with reporters at his country home in Ngwo, pointing out that every citizen of Enugu State, would pay N35. 956 million each for the local debt to be repaid apart, from the foreign cash component if the money is divided by 2.5 million people.
Agu further lamented that Ugwuanyi borrowed such loans without utilising the fund for development, even as most of the roads or infrastructure, especially broads which were budgeted for were not executed, even as primary school teachers are not paid the N30,000 new minimum wage and retired civil servants are owed gratuities and other entitlements.
Enugu State is the seventh most indebted state in the country.
Abia, Enugu and Ebonyi States are leading in the South East geopolitical zone among the 28 state governors who have piled up over N5.8 trillion debt for their successors.
Lagos State is leading all the other states with N877.04 billion domestic debt and $1.27 billion foreign debt, followed by Kaduna, with a domestic debt of N86.86bn and external debt of $586.78 million.
The domestic and external debts published on the DMO’s website were as of September 30 and June 30, 2022, respectively.
The third highest debtor is Rivers, with a domestic debt of N225.51bn and foreign debt of $140.18 million, followed by Cross River State, with N175.2bn domestic debt and $215.75m external debt.
Ogun is the fifth indebted state with N241.78 billion domestic and $122.73 million foreign debt; followed by Bauchi with N144.28 billion domestic and $172.76 million external debt.
local and $123.02 foreign million followed by Kano with N125.19 billion and $109.42 million just as Abia takes the nineth position with N104.57 billion and $95.63 million even as Adamawa is in the 10th position with N122.48 billion and $77.01 million debt among others.
However, commenting on the huge debts, Agu accused the PDP administration in the state of borrowing money recklessly from both foreign and local sources without using same for projects that would create employment for the youths or yield income for the state.
“I am sure that the PRP government in Enugu State, will not borrow fresh loans. The PRP government in Enugu State will create jobs for the youth and establish industries for the people,” he said.
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