Thursday, June 9, 2011

I inherited N100bn debt – Okorocha

7 June 2011

OWERRI – Governor Rochas Okorocha of Imo State has raised alarm over the total debt profile of approximately N100 billion he inherited from the immediate past administration, including internal and external debts and outstanding contract bills.

Okorocha, who made the startling disclosure in a broadcast on radio and television, yesterday, however, affirmed that Imo remains one of the low income states.

”Imo State remains one of the low income states with about N2.2 billion monthly subvention and about N1.9 billion monthly wage bill, which explains why previous administrations have constantly engaged in endless borrowing and passes the bulk of responsibility to future governments,” Okorocha said.

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