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IT’S MISLEADING CLAIMS, WE’RE PRODUCING – NNPCENUGU TO LAUNCH AIRLINE AS GOV MBAH PRESENTS N971.8B FOR 2025WILL PRICE OF PETROL DROP?, NIGERIANS ASK AS PORT HARCOURT REFINERY BEGINS OPERATIONBREAKING: EFCC ARRESTS YAHAYA BELLOEBONYI GOVERNOR, NWIFURU, SUSPENDS TWO COMMISSIONERS, OTHERSPORT HARCOURT, WARRI, KADUNA REFINERIES TO BE PRIVATIZED – PRESIDENCYEND OF DARK TUNNEL: PORT HARCOURT REFINERY COMMENCES CRUDE OIL PROCESSINGOPEN LETTER TO SOUTHEAST SENATORS, HONOURABLE MEMBERS OF HOUSE OF REPRESENTATIVES, OHANAEZE YOUTH COUNCILNIGERIA WOULD HAVE BEEN BETTER UNDER PETER OBI – ABARIBEWHY NIGERIANS ARE POORER AMID GDP GROWTH -ECONOMISTSZAMANI LEKWOT: HOLDING JUDICIAL, MILITARY TERRORISM TO JUSTICE, BY OWEI LAKEMFAYOU FAILED TO SUPPORT, PARTICIPATE IN IFEANYI UBA’S BURIAL – FAMILY ACCUSES SENATENIGERIAN ARMY COMPLAINS ABOUT DWINDLING RESOURCESSENATORS KNOCK TINUBU’S GOVT OVER BORROWING DESPITE EXCEEDING REVENUE PROJECTIONSTHEY SAY THEY WANT BIAFRA, YET THEY KILL, KIDNAP THEIR BROTHERS – BISHOP LAMENTS OVER KILLINGS IN SOUTH EASTAUDITOR GENERAL OF THE FEDERATION UNCOVERS N197.72B FRAUD IN CBN, OTHER MDAS1.5M ENUGU LG WORKERS GROAN OVER WITHHELD SALARIES AFTER VERIFICATION EXERCISEENUGU SHINES AT UK BUSINESS FORUMWHY NIGERIANS ARE GETTING POORER BY DELE SABOWALEENUGU RESIDENTS GROAN AS RESIDENTS RESORT TO TREKKINGNGO HOLDS TOWN HALL MEETING FOR SOUTH EAST JOURNALISTSCONCERN OVER PUTIN’S HEALTH, HAS NOT BEEN SEEN FOR TWO WEEKSHOW NIGERIAN LEADERS BECAME PRESIDENT BY ACCIDENT, NOT PREPARED FOR THE JOB – KUKAHWIKE ORDERS DISSOLUTION OF SPECIAL COURT OF APPEAL THAT GAVE FAVOURABLE JUDGEMENT ON RIVERS STATE LGA ELECTIONS – SAHARAREPORTERSOLDEST CATHOLIC PRIEST IN NIGERIA DIES AT 104, OBASEKI MOURNSPRESIDENCY LOBBIES NATIONAL ASSEMBLY OVER TAX REFORM BILLSDANGOTE REFINERY NOW SELLS FUEL AT N970/LITREFOUR FACTS THAT MAKE SOUTH AFRICA THE TRUE GIANT OF AFRICAENUGU GOVT GIVES DECEMBER DEADLINE FOR COMMENCEMENT OF COAL MINING OPERATIONSSENATE PRESIDENT AKPABIO, PRAISES THE IGBO FOR INDUSTRY, SELF-RELIANCESINS OF SIMON EKPA, SO-CALLED PRIME MINISTER OF BIAFRA IN EXILEYAHAYA BELLO BETRAYED BY TRUST, REDEEMED BY CHOICE BY ABDUL MOHAMMED LAWALHUNGER IN THE LAND: THIEVES INVADE CHURCH, STEAL HARVEST COWSTHERE’S CONSPIRACY AGAINST ME – DANIEL BWALAPDP GOVERNORS GIVE DAMAGUM, NWC THREE MONTHS TO CALL NEC MEETINGNIGERIANS CALL FOR REUBEN ABATI’S SACK OVER BIGOTRY REMARKS AGAINST THE IGBO140 YEARS AFTER THE BERLIN WEST AFRICA CONFERENCE BY CHIDI ANSELM ODINKALU & CHEPKORIR SAMBUPOLICE INVADE NATIVE DOCTOR’S SHRINE IN ANAMBRA ARREST TWO SUSPECTS FOR KIDNAPPING
Mon. Dec 2nd, 2024
Trending News: SEVEN FOUNDERS OF LOCAL AIRLINES IN NIGERIA’S $1.78B AVIATION INDUSTRYTRUMP APPOINTS NIGERIA-LEBANESE BUSINESSMAN ADVISOR ON ARAB MIDDLE EASTERN AFFAIRS2027: ATIKU, OBI’S PARLEY IN YOLA REIGNITES MERGER PERMUTATIONSPH REFINERY STILL OPERATING – ENGINEERS CLAIMCOURT STOPS UNN FOR CONDUCTING CONVOCATION ELECTIONGOWON, OJUKWU NEVER RECONCILED – ONOHNIGERIANS LIVING FAKE GOOD LIFE’ PRIOR TO REMOVAL OF OIL SUBSIDY – TINUBUYET-TO-BE IDENTIFIED CATHOLIC PRIEST KIDNAPPED IN ENUGUFEDERAL PENSIONERS PLAN PROTEST OVER N32,000 INCREMENTMAN LOSES WIFE, DAUGHTER IN CKC ABA STAMPEDEOBASANJO DISOWNS GOWON, SAYS HE NEVER KNEW HE TOLD ABACHA NOT TO KILL HIMA HISTORY OF ZIONIST ATROCITIES, BY FEMI FANI-KAYODECHIDIOKA ACCUSES INEC OF ELECTION RIGGING, QUITS PDPWE’RE NOT PART OF BIAFRA DECLARATION IN FINLAND – IPOBATIKU, OBI PLAY DOWN 2027 AMBITION, SAY WE’RE FRIENDSNIGERIANS TO PAY MORE FOR MTN, GLO, AIRTEL FROM DEC 13PH REFINERY SHUTS DOWN TEMPORARILYSIMON EKPA NOT BAILABLE, FOLLOWERS DECLARE UNITED STATES OF BIAFRA IN FINLANDATIKU, OBI, EL RUFAI PLAN ALLIANCE AHEAD OF 2027NIGERIA, FRANCE SIGN 300M EURO AGREEMENT ON AGRICULTURE, FOOD SECURITYPH REFINERY HALTS OPERATIONS, LOADING BAY EMPTYNLC DIRECTS WORKERS IN 13 STATES TO PROCEED ON STRIKE FROM MONDAYREACTIONS TRAIL SEYI TINUBU’S ENDORSEMENT AS LAGOS GOVERNOR FOR 2027WHY NIGERIA NEEDS TAX REFORM, BY OYEDELEPH REFINERY: NNPCL WILL FURTHER SLASH PMS PRICE – PETROANNO GOING BACK ON NIGERIA’S ECONOMIC REFORMS, TINUBU TELLS FRENCH PRESIDENT, MACRONTINUBU ASSURES OKONJO-IWEALA OF NIGERIA’S SUPPORT ON REAPPOINTMENT AS WTO DIRECTOR GENERALGUSAU UNIVERSITY CONFIRMS ODOH’S PROFESSORSHIP STATUSFIT GROUP TO CONSTRUCT HILTON GARDEN INN IN ENUGUWTO REAPPOINTS NGOZI OKONJO-IWEALA AS DIRECTOR GENERALPETROL PRODUCTION: CONTROVERSY SURROUNDS PH REFINERY, NNPCLMISUSE OF SOCIAL MEDIA FUELS INSECURITY – ARMY ALLEGESFG COMPLETES PH-ABA RAILWAY SECTION, HANDS IT OVER TO NRCPROF AZINGE RECEIVES STAFF OF OFFICE AS 14TH ASAGBA OF ASABAIMO STATE REELS UNDER DEBT: OWES N43B TO CONTRACTORS, N163B DOMESTIC BORROWING, N70B TO CBNENUGU RETIREES LANGUISH AS GOVERNOR MBAH OWES OVER N26.8B IN PENSIONS, GRATUITIESPROF UCHE LUCY ONYEKWELU EMERGIES VICE CHANCELLOR, LUX MUNDI UNIVERSITYTAX REFORM BILLS PASS SECOND READING IN SENATE AS HOUSE OF REPS GOES INTO EXECUTIVE SESSIONHOW POLICE KILLED 24 #ENDBADGOVERNANCE PROTESTERS, DETAINED OVER 1200 OTHERS, INCLUDING MINORS – AMNESTY INTERNATIONALTAX REFORM BILLS: NIGERIANS EARNING BELOW N1M EXEMPTEDNIGERIA TO CONDUCT NATIONAL CENSUS IN 2025WIKE, FUBARA ACCUMULATE HUGE DEBTS FOR RIVERS GOVTIBB, ORTOM, TAMBUWAL TOP LIST OF PUBLISHED LAND TITLE DEBTORS200 TRUCKS LOAD 150,000BP DAILY AT PH REFINERY, ELEME PLANT DORMANTFINISH COURT FIXES MAY 2025 DATE AS SIMON EKPA’S TRIALSACKED VC SUES GUSAU UNIVERSITY FOR DENYING HIS PROFESSORSHIPNIGERIANS MORE LOYAL TO ETHNIC GROUPS, THAN NIGERIA – GOODLUCK JONATHANVAT: LAGOS GETS 17%, IMO – 1.716%MAN KILLS MOTHER, GRANDMOTHER, SISTER AND CHILD FOR MONEY RITUAL IN ENGLISH COMMUNITYNORTH MUST NOT TEAR NIGERIA APART – GOWONPH REFINERY WILL CRASH FUEL PRICE, CREATE JOBS – IPMAN, PETRAONSOUTHEAST STAKEHOLDERS WANT NNAMDI KANU RELEASED, SIMON EKPA JAILEDSUPREME GIVES FINAL VERDICT ON AUTHENTIC APGA NATIONAL CHAIRMANOUR MARKETERS PAID N1,045/LITRE FOR PH REFINERY’S PETROL, SAYS PETROANUPROAR IN SENATE OVER TINUBU”S TAX REFORM BILLSEBONYI GOVT APPROVES PRIVATIZATION OF MEDIA OUTFITSYAHAYA CREATES SCENE AS JUDGE ANGRILY LEAVES COURTROOMPH REFINERY OPERATING AT 70% CAPACITY, TO BLEND 1.4M LITRES OF PETROL PER DAYAHEAD OF 2027, ATIKU, OBI MULL NEW POLITICAL PARTYTINUBU WILL RELEASE NNAMDI KANU – BIANCA OJUKWUOBASANJO LAMENTS DEATH RUMOUR CIRCULATING IN SOCIAL MEDIA, SAYS ‘I’M ALIVE’TRUTH ABOUT THE IGBO NOT SELLING LAND TO NON-IGBOCONTROVERSY OVER PETROL PRODUCTION FROM PORT HARCOURT REFINERY: NNPCL NOT PRODUCING – REPORT; IT’S MISLEADING CLAIMS, WE’RE PRODUCING – NNPCENUGU TO LAUNCH AIRLINE AS GOV MBAH PRESENTS N971.8B FOR 2025WILL PRICE OF PETROL DROP?, NIGERIANS ASK AS PORT HARCOURT REFINERY BEGINS OPERATIONBREAKING: EFCC ARRESTS YAHAYA BELLOEBONYI GOVERNOR, NWIFURU, SUSPENDS TWO COMMISSIONERS, OTHERSPORT HARCOURT, WARRI, KADUNA REFINERIES TO BE PRIVATIZED – PRESIDENCYEND OF DARK TUNNEL: PORT HARCOURT REFINERY COMMENCES CRUDE OIL PROCESSINGOPEN LETTER TO SOUTHEAST SENATORS, HONOURABLE MEMBERS OF HOUSE OF REPRESENTATIVES, OHANAEZE YOUTH COUNCILNIGERIA WOULD HAVE BEEN BETTER UNDER PETER OBI – ABARIBEWHY NIGERIANS ARE POORER AMID GDP GROWTH -ECONOMISTSZAMANI LEKWOT: HOLDING JUDICIAL, MILITARY TERRORISM TO JUSTICE, BY OWEI LAKEMFAYOU FAILED TO SUPPORT, PARTICIPATE IN IFEANYI UBA’S BURIAL – FAMILY ACCUSES SENATENIGERIAN ARMY COMPLAINS ABOUT DWINDLING RESOURCESSENATORS KNOCK TINUBU’S GOVT OVER BORROWING DESPITE EXCEEDING REVENUE PROJECTIONSTHEY SAY THEY WANT BIAFRA, YET THEY KILL, KIDNAP THEIR BROTHERS – BISHOP LAMENTS OVER KILLINGS IN SOUTH EASTAUDITOR GENERAL OF THE FEDERATION UNCOVERS N197.72B FRAUD IN CBN, OTHER MDAS1.5M ENUGU LG WORKERS GROAN OVER WITHHELD SALARIES AFTER VERIFICATION EXERCISEENUGU SHINES AT UK BUSINESS FORUMWHY NIGERIANS ARE GETTING POORER BY DELE SABOWALEENUGU RESIDENTS GROAN AS RESIDENTS RESORT TO TREKKINGNGO HOLDS TOWN HALL MEETING FOR SOUTH EAST JOURNALISTSCONCERN OVER PUTIN’S HEALTH, HAS NOT BEEN SEEN FOR TWO WEEKSHOW NIGERIAN LEADERS BECAME PRESIDENT BY ACCIDENT, NOT PREPARED FOR THE JOB – KUKAHWIKE ORDERS DISSOLUTION OF SPECIAL COURT OF APPEAL THAT GAVE FAVOURABLE JUDGEMENT ON RIVERS STATE LGA ELECTIONS – SAHARAREPORTERSOLDEST CATHOLIC PRIEST IN NIGERIA DIES AT 104, OBASEKI MOURNSPRESIDENCY LOBBIES NATIONAL ASSEMBLY OVER TAX REFORM BILLSDANGOTE REFINERY NOW SELLS FUEL AT N970/LITREFOUR FACTS THAT MAKE SOUTH AFRICA THE TRUE GIANT OF AFRICAENUGU GOVT GIVES DECEMBER DEADLINE FOR COMMENCEMENT OF COAL MINING OPERATIONSSENATE PRESIDENT AKPABIO, PRAISES THE IGBO FOR INDUSTRY, SELF-RELIANCESINS OF SIMON EKPA, SO-CALLED PRIME MINISTER OF BIAFRA IN EXILEYAHAYA BELLO BETRAYED BY TRUST, REDEEMED BY CHOICE BY ABDUL MOHAMMED LAWALHUNGER IN THE LAND: THIEVES INVADE CHURCH, STEAL HARVEST COWSTHERE’S CONSPIRACY AGAINST ME – DANIEL BWALAPDP GOVERNORS GIVE DAMAGUM, NWC THREE MONTHS TO CALL NEC MEETINGNIGERIANS CALL FOR REUBEN ABATI’S SACK OVER BIGOTRY REMARKS AGAINST THE IGBO140 YEARS AFTER THE BERLIN WEST AFRICA CONFERENCE BY CHIDI ANSELM ODINKALU & CHEPKORIR SAMBUPOLICE INVADE NATIVE DOCTOR’S SHRINE IN ANAMBRA ARREST TWO SUSPECTS FOR KIDNAPPING
Mon. Dec 2nd, 2024

IMO STATE REELS UNDER DEBT: OWES N43B TO CONTRACTORS, N163B DOMESTIC BORROWING, N70B TO CBN

Uzodinma 768x372 1

IMO STATE REELS UNDER DEBT: OWES N43B TO CONTRACTORS, N163B DOMESTIC BORROWING, N70B TO CBN

Imo State Reels Under Debts As Governor Uzodimma Owes N43billion To Contractors Amid N163billion Domestic Borrowing

The state also owes the CBN N70.8 billion from the differentiated cash reserve ratio it got.

Areview of the audited financial statements of Imo State, has shown that the Governor Hope Uzodimma-led government owes its contractors N43billion and the Central Bank of Nigeria the sum of N89billion as of the end of 2023.

The report also shows that Imo State under Governor Uzodimma owes the apex bank the sum of N17.2billion from the budget support granted to it by the Central Bank; the state also owes another sum of N66 million from the MSME development fund it got from the CBN.

Another sum of N1.6 billion is owed by the state from the CBN Covid-19 health intervention fund it received from the apex bank.

The state also owes the CBN N70.8 billion from the differentiated cash reserve ratio it got.

The funds are listed against banks such as Fidelity Bank, Zenith Bank, Access Bank and Union Bank.

Further review by SaharaReporters shows that the state owes another sum of N43.4 billion to contractors as of the end year 2023.

In November 2021, it was announced that the Central Bank of Nigeria was giving each state of the federation a fresh sum of N18.2billion as budget support facility.

This came after the apex bank in April 2021 demanded payback of budget support loans granted states between 2015 and 2016.

Nigerian states up till now have been struggling with their activities relying on the funding from the federally distributed revenue and heap of loans.

The loans usually lead to high debt servicing figures which experts say have a negative impact on developmental needs of states.

Already, Imo State has a high debt portfolio, owing $74 million externally as of June 2024 and another N163 billion domestically as of March 2024.

    • Dons Eze

    DONS EZE, PhD, Political Philosopher and Journalist of over four decades standing, worked in several newspaper houses across the country, and rose to the positions of Editor and General Manager. A UNESCO Fellow in Journalism, Dr. Dons Eze, a prolific writer and author of many books, attended several courses on Journalism and Communication in both Nigeria and overseas, including a Postgraduate Course on Journalism at Warsaw, Poland; Strategic Communication and Practical Communication Approach at RIPA International, London, the United Kingdom, among others.

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