Israel Umoh
Akwa Ibom, Bayelsa and Edo States in the Nigeria’s South South region are said to have traded off whopping N523 billion outstanding from the 13 per cent derivation arrears as low interest rate for loans in the commercial banks.
The Director, Directorate of Parliamentarians of the All Progressives Congress (APC) in the South-South, Senator Ita Enang who announced this Saturday at a news conference in Abuja, said the governors shortchanged their respective states through low rates discounting at various banks.
The former Senior Special to the President on Niger Delta Affairs said Akwa Ibom has discounted outstanding of N277 billion, Bayelsa, N209 billion and Edo N37 billion for what he described as ‘ridiculous loans’ in the banks.
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He alleged that the six governors in the region misappropriated N950 billion accrued to their states as proceeds of excess crude oil sales and 13% derivation.
Enang, therefore, called on the Houses of Assembly of the affected states, to thoroughly investigate the action of their governors and commence impeachment proceedings against those found culpable.
He explained that President Muhammadu Buhari had paid the said money as arrears due to the oil-bearing states from 2004 to 2019 as well as derivation arrears from deductions made by NNPC from 1999 to December 2021.
Enang said while Akwa Ibom State had collected a total sum of N133.5 billion, it had an outstanding of N277 billion to collect but had already discounted the fund at low rate in banks for ridiculous loans.
According to him, Rivers State Government had collected N116 billion from the arrears of oil monies and N229 billion as outstanding while Delta State State collected a total of N125 billion but had an outstanding balance of N253 billion.
Similarly, Bayelsa State had collected N104 billion and has an outstanding balance of N209 billion was also being discounted by the State Governor for ridiculous loans.
”Edo State has collected the sum of N13 billion so far and has N37 billion outstanding payment which is also being discounted through loans in some banks,” the APC chieftain pointed out.
He however, said that Cross River State Government was not in the fleecing game due to insignificant accruals the State had been getting.
“Total money collected by Cross River State from oil money arrears is N1.4 billion while outstanding payment is N1.2 billion. Exposures being made here today on how the Governors of the South South States, have been squandering oil earnings, are to get the people of the respective states informed ahead of the 2023 general election that they should reject their party, the Peoples Democratic Party ( PDP) in the 2023 general election.
“We want impeachment proceedings to be carried out against them by their respective State Houses of Assembly if their members truly loyal to the people. We, however, thank the Governors for their kleptomania which will surely make candidates of their party to lose elections next year,” Enang stated.
(With reports from News agency)
