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N600bn Debt Profile Worries Deltans

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A N600bn debt profile of Delta State has unsettled Deltans who described it as unfortunate and called for a thorough

The intimidating debt profile was not incurred by the present administration led by Dr. Ifeanyi Okowa but successive
administrations in their bids to ensure development and prompt payment of workers’ salaries in the state.

Only recently, the state governor, Dr. Ifeanyi Okowa at a press briefing lamented the increasing pipelines vandalization by militants who have been agitating for the rights of Niger Delta region especially as oil producing region.
At the occasion the governor disclosed that with an inherited debt and other obligations in excess of N600 billion, a workforce estimated at almost 70,000 for which a monthly expenditure of approximately N7billion and a huge overhang of pensioners the financial profile of the state is in dire situation.

Meanwhile, the state commissioner for information,Patrick Ukah said the debt profile has inhibited infrastructural
development as it is being serviced monthly with N2 billion.

He said, “In spite of the poor allocation from the federal government, Delta State’s internally generated revenue is currently between N3billion and N4 billion. Governor Okowa with these challenges has done considerably well with infrastructural development within the space of less than two years, but our major regrets are the continued pipeline
vandalization and the absence of major oil companies, hence we are appealing to the Niger Delta militants to embrace the Federal Government initiated dialogue so that our economy can bounce back for developmental strides.”

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