REACTIONS TRAIL SEYI TINUBU’S ENDORSEMENT AS LAGOS GOVERNOR FOR 2027
A few days ago, several groups mounted campaigns, endorsing Seyi Tinubu, the son of President Bola Tinubu to become the next governor of Lagos State. DAILY POST reports that it started with the Coalition of Nigerian Youth Leaders, CONYL, which in a statement in Owerri, Imo State, endorsed the President’s son for the Lagos governorship seat in 2027. According to the Coalition, Seyi Tinubu had on several occasions proven through his philanthropic gestures that he is a man who is selfless in all senses of the word. “When there was flooding in Borno State, Mr Seyi and his team were there to sympathize and show support to those Nigerians whose property, homes and means of livelihood were destroyed by the flood. “He gave a lot of gift items, food, home utensils, drugs and money to the affected persons during that period when the sad event took place,” the coalition said. Also, the Lagos branch of the Middle Belt Youths joined the call in a press conference, with the Deputy National Publicity Secretary of the Middle Belt Forum, Dr Stanley Augustine Kavwam, as well as the group’s National Youth Leader, Capt. Brent Kane, urging Seyi to step up in 2027, describing him as the leader Lagos In the same vein, a socio-political organisation, Friends of Seyi Tinubu, FOST, endorsed Seyi Tinubu for the 2027 contest. Describing him as a visionary leader with a rare blend of intellect, empathy, and strategic acumen, the group said Seyi Tinubu is the quintessential choice to drive Lagos state into a future defined by prosperity and innovation. A statement by its president, Comr. Adejorin Tai Manuel, said Seyi Tinubu’s philanthropic contributions, leadership acumen, and commitment to societal progress is evidence of his readiness to serve as governor. The development has been drawing reactions from different stakeholders. First to quickly react was a prominent member of the ruling All Progressives Congress, APC, Joe Igbokwe, who voiced his opposition in a Facebook post, describing the endorsements as a ploy to undermine President Tinubu. “Who are these faceless people pushing Seyi Tinubu for Lagos governor? This is a needless distraction. To pull PBAT down is their target. Ruling Lagos is not the job of boys,” Igbokwe wrote. Similarly, a youth group under the aegis of the Coalition of Lagos Indigenous Youths rejected the endorsement, saying there was no vacancy for a non-indigene to occupy the Alausa Government House. “Our attention has been drawn to the recent endorsement of Seyi Tinubu for Lagos governor by a group known as Coalition of Nigerian Youth Leaders, CONYL, and the group is described as the umbrella body of all the youth groups drawn across the six geopolitical zones in Nigeria. “The said Coalition sat in Owerri, Imo State and publicly issued the statement of endorsement. “While we know Mr Seyi Tinubu has his democratic rights as a Nigerian, we condemn the ill-fated endorsement and describe it as anti-democracy and a deliberate move by some faceless individuals to deny indigenes of Lagos State the right to govern themselves in 2027. “It is no longer news that since 1999, no true blood indigene of Lagos State has taken over the mantle of leadership in the State (except one), the marginalization which underscores the essence of democracy and an outright denial of the indigenes of Lagos State the right to govern themselves. “We know as a fact that there will soon be vacancy in Osun State where Mr Seyi Tinubu can best exercise his democratic rights unhindered. “And if the people of Owerri in Imo are also interested in benefiting from the experience Mr Seyi Tinubu has acquired in recent times, they can push him to succeed Governor Uzodinma. “As for us there is no vacancy for non-indigenes in…
WHY NIGERIA NEEDS TAX REFORM, BY OYEDELE
Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Mr Taiwo Oyedele was at the House of Representatives to brief federal lawmakers on the need to pass the bills on tax reforms arguing that majority of Nigerians stand to gain from the proposed new system of tax administration. Mr President set up the Presidential Fiscal Policy and Tax Reforms Committee in August, 2023 with three very clear mandates. The first one is on fiscal governance. For this committee to look at our nation’s finances, revenue, how we spend our money, our borrowing, the terms of those borrowing, and how we coordinate policies amongst fiscal, monetary, and trade, not only at the federal government level alone, but also across sub-nationals so that one level of government is not pulling to the right and another one is pulling to the left, bearing in mind that at the end of the day, governance at all levels is about our people. The second mandate is revenue transformation. How do we change the narrative for our country? And that includes taxation. That includes government assets. That includes government-owned enterprises. We want NFPs to give us tens of billions of dollars in profit, dividend every year, as well as natural resources, oil and gas, and solid minerals. The last mandate is economic growth and competitiveness. We are given the mandate to look very closely at why is it that our businesses are struggling? Why is it that Nigeria today does not have like 50 multinational companies that are headquartered in Nigeria? That even when you are not selling crude oil, they are bringing money back home. We have a company in the world today, one of the largest companies, that their turnover alone is more than Nigeria’s GDP multiplied by two. That’s one company. So why is it difficult for our small businesses to survive beyond five years? Why are they not growing? So those issues, why is it difficult for exporters to export? We spoke to people exporting and they said they have to go through more than 22 permits, approvals, clearance. That takes about two months and they have to pay for every single one of that. By the time you are done, if you are lucky, your product is still fit for export. In putting the committee together, we’re very, very deliberate in ensuring that the committee is representative. We have over 80 members of eminent, qualified, experienced and patriotic Nigerians from all the geopolitical zones. We have good representation of women and youths. We had 45 undergraduates from 22 universities across Nigeria working with us at the secretariat and they attend our meetings because we also want to get the views of the young people. We have over 20 government institutions represented. Level of consultation We have the organised private sector represented including trade associations, manufacturers, chambers of commerce, small businesses, professional bodies, large and small accounting firms and the civil society. In doing our work, we were very clear that it has to be national interest first, national interest next, national interest at all times. We said to ourselves that if we have a Nigeria that is working, everybody will find a space within a Nigeria that is working. We were very, very particular about using data. Every single recommendation we have in those four views are driven by data. There was nothing we’re recommending that is emotional. When we have meetings with our stakeholders, we say to them, give us data because it’s by using data that we can look back many years from now and say we did the best for our country. We also ensure that we have a clear philosophy for our tax system, which is that our…
NO GOING BACK ON NIGERIA’S ECONOMIC REFORMS, TINUBU TELLS FRENCH PRESIDENT, MACRON
NO GOING BACK ON NIGERIA’S ECONOMIC REFORM, TINUBU TELLS FRENCH PRESIDENT, MACRON President Bola Ahmed Tinubu has reiterated his administration’s commitment to the ongoing reform, saying that it will benefit the whole of Africa. The President, who lauded the Nigeria’s relationship with French President Emmanuel Macron, told the French leader that there was no looking back on the reforms embarked upon by his administration. Speaking at a State Dinner organised by the French government for him at Palais des Elysée in Paris on Thursday night, the Tinubu encouraged Nigerian and French citizens to uphold the cordial relationship shared by their countries. Tinubu said Africa had no choice but to build a continent that connects, resonates for its people, and cares about the people and development He said, “In addition to the economic prospects and what you mean to Europe, to America and the African continent, there is a good prospect that you will not forget who we are. You open your doors for investment for our friends and brothers here. I could see Aliko Dangote, Aig Imoukhuede, and Tony Elumelu here. You have memories of your friends in Nigeria. You asked for Mike Adenuga earlier today,” he added. President Tinubu noted that the future remained bright for better relations with France. “It is a good time for all of us. I cannot be prouder than I am to be President of Nigeria at this challenging time. I have people who are very clearly inspired, who are determined to change the course of Africa by changing the rot of the past, blending a future that our children and grandchildren can hold, and be open, and be proud,” the President said. President Tinubu stated that the reforms in Nigeria would improve Africa’s economic prospects. “Regarding Nigeria’s economy, as you have said, we have embarked on a very strong reform, and there is no looking back. It is in the interest of the entire continent that we don’t continue in the past. We must brace up for the future with commitment and optimism. And with the courage of our founding fathers.” In his remarks, President Macron acknowledged Nigeria’s leadership in Africa, recognising its role as a ‘big brother’ to the continent. He praised Nigerians for their resilience and intellect, mentioning Nobel Laureate Prof. Wole Soyinka and musician Femi Kuti as global figures. “Nigeria is a formidable country with talented young people. Many Nigerians are exceptional in their chosen careers. “You conquered military rule and took your liberty. President Tinubu transformed the economy in Lagos, and now you are on a mission to transform the country,” he added. Macron noted that French investors had long been active in Nigeria, particularly in oil, gas, construction, and food security. He also highlighted opportunities in solid minerals, emerging technologies, and the film industry. “Nigeria and France will continue to lead together, forging a path forward,” President Macron concluded.
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- Foreign Affairs
- November 29, 2024
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TINUBU ASSURES OKONJO-IWEALA OF NIGERIA’S SUPPORT ON REAPPOINTMENT AS WTO DIRECTOR GENERAL
TINUBU ASSURES OKONJO-IWEALA OF NIGERIA’S SUPPORT ON REAPPOINTMENT AS WTO DIRECTOR GENERAL President Bola Tinubu has assured the reappointed Director General of the World Trade Organization, WTO, Ngozi Okonjo-Iweala of Nigeria’s continued support. Tinubu gave the assurance while congratulating Okonjo-Iweala on her unanimous re-election as WTO DG. Okonjo-Iweala made history in 2021 as the first African and first woman to lead the 164-nation-member WTO. Her first term as the seventh Director-General of the WTO will expire on August 31, 2025, while her second term begins on September 1. Tinubu said Okonjo-Iweala’s unanimous appointment for a second four-year term demonstrates the trust and confidence the international community places in her leadership. He disclosed this in a statement signed by his Special Adviser on Media and Publicity, Bayo Onanuga. The statement reads: “President Bola Tinubu congratulates Dr Ngozi Okonjo-Iweala, former Coordinating Minister for the Economy and Minister of Finance, on her unanimous re-election today as the Director-General of the World Trade Organisation (WTO). “The renowned development economist and global finance expert made history in 2021 as the first African and first woman to lead the 164-nation-member WTO. “Her first term as the seventh Director-General of the WTO will expire on August 31, 2025, while the second term begins September 1. “The Nigerian leader notes with delight that Dr Okonjo-Iweala’s unanimous appointment for a second four-year term demonstrates the trust and confidence the international community places in her leadership to advance multilateral trade for sustainable global development. “President Tinubu is confident that her continued leadership will strengthen the international economic organisation’s role as a critical pillar of inclusive global economic growth and good governance in the next four years. “As a committed member of the WTO, ECOWAS, and the African Continental Free Trade Area (AfCFTA), Nigeria will continue to support the WTO’s mission to foster a fair, inclusive, and equitable multilateral trading system. “President Tinubu assures Okonjo-Iweala of Nigeria’s steadfast support as she consolidates her bold reforms, dedication to equitable global trade practices, and tireless efforts to promote international cooperation.”
GUSAU UNIVERSITY CONFIRMS ODOH’S PROFESSORSHIP STATUS
The controversy over the academic qualifications of the newly appointed Vice Chancellor of Nnamdi Azikiwe University, Awka, Prof. Benard Odoh, has been laid to rest following the official confirmation by the authorities at Federal University Gusau that Odoh was actually appointed a Professor in Geological Sciences of the university on Ist October, 2015. A certified true copy of the appointment letter dated 8/11/2024, signed by the Registrar and Secretary to Council of Federal University, Gusau, Ibrahim B. Kaura (who was the pioneer Registrar of the University from 2013-2018) on 12th November 2015, stated that “the university management, having received favourable assessment reports from the three assessors, has taken into consideration and approved that you should be promoted to the post of Professor in Geological Sciences on CONUAS Step 1 with effect from Ist October 2015.” It would be recalled that the President of ASUU, in a press statement on Sunday, alleged that from all indications Odoh was not a full professor and called for the revisiting of his appointment as Vice-Chancellor. But the authorities of Nnamdi Azikiwe University have also countered the ASUU president’s position, noting that some desperate persons from Nnamdi Azikiwe University are using the ASUU platform to pursue selfish agenda after losing out in the VCship contest. A statement from the Information and Public Relations Directorate of UNIZIK titled “UNIZIK VC contest is over: Desperate persons using ASUU platform for selfish agenda” stated thus: “Despite knowing the truth about the academic background of Prof. Benard Ifeanyi Odoh, the 7th substantive Vice Chancellor of Nnamdi Azikiwe University and the appointment procedures followed by the Governing Council, some desperate characters have continued to spread lies, falsehoods and distortions of facts in order to not only whip up sentiments but to unduly heat up the university environment for selfish gains.” “Such characters behind these sordid acts should therefore be exposed for whom they are—they are people of questionable character. After they failed to secure the Vice Chancellor position, they resorted to baseless blackmail. They are those who have been found culpable for one infraction or the other in the academic environment. Because the system in place then chose to condone their transgression or gave them a soft landing, they are today emboldened to ‘fight’ having prospered in the old order and are very much uncomfortable and uncertain over what the new order holds for them.” “They are the people hiding under the banner of the Academic Staff Union of Universities (ASUU) to pour invectives on the Pro-Chancellor and Chairman of the Governing Council of Nnamdi Azikiwe University.” “The latest press release signed by the National President of ASUU, Prof. Emmanuel Osodeke (whom we hold in high esteem), bears the imprimatur of these desperadoes. Osodeke appended his signature to the press release based on ignorance, out of the content fed him by the desperadoes who still chose to spread falsehood over truth and accuracy.” “To continue to ascribe the erroneous notion that Prof Benard Odoh is not a full professor, as the ASUU press statement highlighted, is the height of ignorance and misinformation.” “To set the records straight for the umpteenth time, Benard Ifeanyi Odoh was promoted to the rank of a professor at the Federal University Gusau in 2015 under the tenure of the then Vice Chancellor, Prof. Benjamin Chukwuma Okeke. A certified true copy of the letter conveying his formal promotion to full professor in Geological Sciences with effect from 1st October 2024, dated 12th November 2015, was duly signed by Ibrahim B. Kaura, then Registrar and Secretary to Council (2013-2018).” “Before his appointment to a full professorship at Federal University Gusau, he was appointed a Visiting Professor in 2014 in the same university.” “Distinguished Professors P.O . Okeke, formerly of the…
WTO REAPPOINTS NGOZI OKONJO-IWEALA AS DIRECTOR GENERAL
WTO REAPPOINTS NGOZI OKONJO-IWEALA AS DIRECTOR GENERAL The World Trade Organisation (WTO) has reappointed Nigeria’s Ngozi Okonjo-Iweala as its Director-General for a second term. This was announced by the WTO in a post on X on Friday. The General Council of the WTO stated that the reappointment will take effect on September 1, 2025. The Council said it agreed by consensus to reappoint Okonjo-Iweala as DG for a second four-year term, stressing that the decision reflects broad recognition of her exceptional leadership and strategic vision for the future of the WTO. It further explained that the reappointment process, initiated on October 8, 2024, was overseen by Ambassador Petter Ølberg of Norway, Chair of the General Council. “With no additional nominations submitted by the November 8 deadline, Dr. Okonjo-Iweala stood as the sole candidate. The process was conducted in a fully open and transparent manner, adhering to the WTO’s ‘Procedures for the Appointment of Directors-General’ (WT/L/509). “During a special General Council meeting on November 28-29, 2024, Dr. Okonjo-Iweala outlined her forward-looking vision for the WTO. Following her presentation and a Q&A session with members, the Council formally endorsed her reappointment by consensus.” “The General Council commends Dr. Ngozi Okonjo-Iweala for her outstanding leadership during her first term. Amid significant global economic challenges, she strengthened the WTO’s ability to support its members and set a forward-looking agenda for the organization. Her leadership was instrumental in securing meaningful outcomes at pivotal moments, including the 12th and 13th Ministerial Conferences (MC12 and MC13), where major milestones were achieved.” Recall that Okonjo-Iweala first assumed office as Director-General on March 1, 2021, becoming the first woman and first African to lead the WTO. Her first term concludes on August 31, 2025.
MISUSE OF SOCIAL MEDIA FUELS INSECURITY – ARMY ALLEGES
MISUSE OF SOCIAL MEDIA FUELS INSECURITY IN NIGERIA – ARMY ALLEGES The Nigerian Army has warned against the use of social media to fuel insecurity in the country. The commander of the Nigeria Army Cyber Warfare Command, Major General A.A. Ayanuga, gave the warning in Lokoja during the 38th edition of the Nigerian Army Social Media Seminar themed “Cultivating a Culture of Security Awareness Through Social Media.” According to him, the reckless sharing of harmful messages, videos and voice notes through social media is jeopardising Nigeria’s peaceful coexistence. “Social media has evolved into a powerful tool that profoundly influences the security landscape of societies worldwide. As we navigate the vast expanse of social media, we must recognise the transformative power. “Social media has democratised information, connected us across borders, and provided unparalleled opportunities for self-expression. However, this freedom comes with immense responsibility and challenges such as misinformation and disinformation, cyberbullying, online harassment, hate speech and divisive rhetoric, impersonation and identity theft, with their effects on national security. “It is critical to understand that misuse of social media to propagate damaging narratives has severe consequences for national security,” he said. The Chief of Civil Military Affairs of the Nigerian Army, Major General N.C. Ugbo, who was represented by B.S. Keji, maintained that social media is a critical aspect of asymmetric warfare being fought in contemporary times. He said: “The Nigerian Army recognises the importance of social media in shaping public perception and influencing national security. It presents an invaluable opportunity for those who recognise the transformative capabilities of social media to connect and collaborate. “That is why we are here to explore ways to harness social media’s potential, counter misinformation, and promote national unity. As we delve into the world of social media, let us remember that our actions online have far-reaching consequences for national security. Therefore, we must use social media responsibly, preserving truth, respect, and national interest.” In his address, the Kogi State Governor, Alhaji Ahmed Ododo, who was represented by the State Security Adviser, Commodore Jerry Omodara, argued that, as much as social media has the potential to be a force for good, its misuse cannot be ignored. Continuing, he said: “We must acknowledge the ever-growing role social media plays in shaping perceptions, guiding public discourse, and driving action on important issues like national security. “The same platforms that enable the rapid spread of life-saving information can also be harnessed to propagate falsehoods, fuel divisions, and escalate tensions. This, as we all know, can have dire consequences for the stability of our communities and our nation as a whole. “Security awareness is a collective responsibility, one that requires constant engagement, education, and collaboration across all sectors of society. We must understand that social media is not just a space for personal interactions but a global stage for conversations that influence real-world outcomes. ” This makes it imperative for us to cultivate a culture of security awareness that equips our citizens, especially the youth, with the right knowledge to distinguish between fact and fiction, to recognise credible sources, and to understand their role in maintaining peace and security within their communities.”
FG COMPLETES PH-ABA RAILWAY SECTION, HANDS IT OVER TO NRC
FG COMPLETES PH-ABA RAILWAY SECTION, HANDS IT OVER TO NRC The Federal Ministry of Transportation (FMOT) has officially handed over the Port Harcourt-Aba section of the Eastern Narrow-Gauge Railway Project to the Nigerian Railway Corporation (NRC) after taking possession of the completed assets from the contractor, China Civil Engineering Construction Corporation (CCECC) Nig. Limited. The contractor, on Thursday, at a brief ceremony in Port Harcourt, handed over the assets, which include 283.060 km of dismantled tracks, 62.800 km of rehabilitated and reconstructed subgrade, and 62.800 km of rail laid for the main line. The handed-over assets by the contractor also include the rehabilitation and reconstruction of 27 sets of turnouts at various stations, the rehabilitation of four existing steel bridges, and the reconstruction of one concrete bridge. Additionally, 10 existing culverts were rehabilitated, 12 new culverts were reconstructed, and 35 level crossings were reconstructed. The contractor also constructed 33,275 meters of drainage. The contractor submitted the technical specifications and maintenance manual of the Port Harcourt-Aba section of the project to the consultant, Khairi-Jamub Global Services, and the client, Federal Ministry of Transportation. The Port Harcourt-Aba rail project is part of the larger Eastern Narrow-Gauge Railway Project, which aims to connect five geopolitical zones in the country. The project is expected to improve socio-economic activities, boost trade, and facilitate ease of movement among the regions involved. However, the Nigerian Railway Corporation (NRC) officially took over the Port Harcourt-Aba section of the Eastern Narrow-Gauge Railway Project. The handing-over ceremony was attended by Ogunade Adesegun, Deputy Director Track and Civil from the Nigerian Railway Corporation, who represented the Managing Director of NRC, Ben Iloanusi. According to Adesegun, the NRC is now responsible for the operation and maintenance of the rail section, which spans Kilometers 0-62. He noted that the commercial aspect of the train has been running smoothly, providing easier, faster, and cheaper transportation for passengers and goods. “This development is a testament to the government’s efforts to provide efficient transportation systems, and the dividends of these efforts are now materializing,” he said. Speaking after the handing-over ceremony, Ayo Dada, a supervisor from the Federal Ministry of Transportation, said the development marked a significant milestone in the project’s completion. He explained that the delay in handing over the project was due to the necessary diligence and processes that needed to be followed. He stressed that this is just one segment of the larger project, which will be completed in phases. He said: “The completion of this project is expected to boost the economy of both cities and states, bringing development and growth to the region. The railway will also provide a safer and more efficient means of transportation, reducing the risk of accidents and congestion on the roads.” In terms of security, Engr. Adesegun assured that the NRC is taking necessary measures to ensure the safety of passengers and goods. He noted that the Corporation has deployed vigilante groups to safeguard the tracks and property of the NRC, adding that the Ministry and Presidency have also put in place their own security measures to protect the rail infrastructure. The Port Harcourt-Maiduguri rail project is a significant investment in Nigeria’s transportation infrastructure, with a total cost of $3.03 billion. The project aims to connect the southeastern oil center of Port Harcourt to Maiduguri in the northeastern state of Borno, covering a distance of 1,443 kilometers.
PROF AZINGE RECEIVES STAFF OF OFFICE AS 14TH ASAGBA OF ASABA
PROF AZINGE RECEIVES STAFF OF OFFICE AS 14TH ASAGBA OF ASABA The Governor of Delta State, Sheriff Oborevwori, on Thursday presented the staff of office to the 14th Asagba of Asaba Kingdom, Obi Prof. Epiphany Azinge, noting that the Asaba people had the unique privilege of being ruled by renowned intellectuals. Speaking at the Ogwa Ukwu Ahaba, the venue of the ceremony, Oborevwori said the role of the traditional institution in the current democratic dispensation could not be overemphasized. The governor said: “Professor Epiphany Azinge, the new Asagba of Asaba, is a legal luminary just as his predecessor, Professor Chike Edozien, was an icon in the medical field. What a story and a great blessing. “I have no doubt that Professor Azinge will do the people of Asaba and the state proud. He is a dynamic personality, thought leader, purpose-driven, and consensus builder. These traits will serve him well to consolidate on the achievements of his predecessor while breaking new frontiers in the administration of the kingdom. “His urbane outlook and statesmanlike disposition are essential qualities needed in the traditional ruler of a domain that is home to people of different tribes and tongues. I am fully persuaded that the kingdom of Asaba under his leadership will attain new heights in community development, peaceful co-existence, and enhanced government-community relations.” He advised the monarch to make it his priority to carry everybody along, including those who disagree with him, as well as to maintain an open-door policy. He said, “When people have a sense of belonging, they will gladly key into your administration’s agenda. Rest assured that the Delta State Government under my watch will continue to partner with you and other traditional rulers in the state for the enactment of people-oriented laws and policies necessary for the prosperity, peace, and progress of all.” Oborevwori appealed to all indigenes of the kingdom to give their maximum support and cooperation to the new Asagba. In his remarks, Chairman of Oshimili South Local Government Area (LGA), Chief Kelvin Ezenyili, noted that Azinge’s selection as the traditional leader of Asaba Kingdom did not come as a surprise “because of the level you have attained professionally and academically here in Nigeria and beyond.” He added, “The journey was not an easy one, but all thanks be to God that you came out victorious. Today, you are being presented with a staff of office to function electively, and we are with you throughout this journey to ensure a better partnership with Oshimili South Local Government Council.” Speaking with newsmen shortly, the Osama of Asaba, Chief Chuck Nduka-Eze, congratulated the governor “for making an exception on this momentous occasion for Asaba, Delta State, and Nigeria. He said, “The staff of office would normally be given to the Asagba by the deputy governor, but because of the significance of the occasion and the long-existing relationships between both parties, the governor decided to present it himself. “It also speaks to what a special day this is for Asaba and Nigeria. This Asaba Kingdom was once where the story of Nigeria started. In the colonial days, Asaba was the headquarters of what was the colonial administration in Nigeria, so anything that happens here has a long history and tradition because it is the beginning of the Nigerian story.”
IMO STATE REELS UNDER DEBT: OWES N43B TO CONTRACTORS, N163B DOMESTIC BORROWING, N70B TO CBN
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.