Imo Bail Out Funds: “N1 Billion Deducted From Imo Monthly Allocation”

Close to N1 billion naria is deducted from the monthly allocation
accruable to Imo State to repay 26 billion naria bail out funds given to
the Okorocha administration by the Federal Government.

This was revealed by Imo State Governor, Emeka Ihedioha in his speech to celebrate his 100 days in office in Owerri, Friday.


It is worthy of note that with our wage bill at an average of N2.5b per
month, almost N1 billion monthly pension bill and in an atmosphere of
very low IGR, leaves little for development.

“This is compounded
by the almost N1b statutory deduction on our FAAC, majorly for the
repayment of the N26.8b bail out funds, given to the last
administration” the Governor said.

He explained his
administration’s success in various sectors such as education, health,
power supply, youth empowerment, agriculture, sports and provision of
affordable housing soon

He said within 100 days in office, the
State Internal Generated Revenue, IGR, increased from all time low of
about 300m in July to 600m in August which made the State qualify for
performance based grants of the World Bank and other multinational
development institutions.

According to him, workers salary has been restored to 100 percent, backlog of local Government workers paid.

added that all unjustly suspended Directors, have been reinstated and
his administraion has reversed some underserved promotions and sponsored
officers to capacity building programmes.

Ihedioha said 14
critical raids are undergoing reconstruction while 70 Rural Roads
network with a cumulative distance of 381 kilometers across 27 LGAs are
under the Rural Access and Mobility projects, RAMP.

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