Imo debt has reduced from N164b to N151b, says gov’s aide

Imo State Government has clarified that it now owes N151 billion as against N164 billion being insinuated in some quarters.

A statement issued, yesterday, by the Special Adviser to the Imo State Governor on Public Enlightenment, Eze Ochiwar Ugochukwu, insisted that Governor Hope Uzodimma inherited a debt profile of N164 billion as of December 31, 2019, a few days before he assumed office.

“He has reduced the total indebtedness to N151 billion as of September 30, 2021, which includes repayment of N1.2 billion of the Imo Standard Shoes Industry in Owerri.

The statement, which emanated from the Debt Management Office (DMO), said: “Uzodimma did not inherit a debt of between N110 billion and N115 billion at the inception of his administration on January 15, 2020. Rather, the domestic debt stock as of December 31, 2019 stood at N164 billion.”

It, however, maintained that within 15 days, just before he assumed office, the governor made a remarkable repayment of the debt.

Ogochukwu stated that as of September 30, 2021 the total debt stock was reduced to N151 billion, adding: “Uzodimma is paying off debts, not the other way round.”