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    Straightnews
    Home»Articles»Opinion»The N150 billion Loan: Matters arising?
    Opinion

    The N150 billion Loan: Matters arising?

    straightnewsng.comBy straightnewsng.comMarch 19, 2022 --- 11:52 pmNo Comments5 Mins Read
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    Alkali DanTsoho

    As 2013 was about to roll into oblivion, a new entrant was appointed as Secretary to Akwa Ibom State government to man the engine room of the government. 

    The gentleman, whose background as a certified accountant, financial controller and banking guru, was draped in a religious toga of a deacon.

    By the way, the origin of deacons can be found in Acts 6 of the Holy Book when murmuring started in the early church. They were appointed for the business of handling financial matters (HCSB version). Later, Apostle Paul in his letter to Timothy as recorded in 1 Timothy 3:8 remarked, Deacons … should be worthy of respect, not hypocritical (doubletongued), not drinking a lot of wine, not greedy for money (not greedy of filthy lucre).

    Continuing in verse 13, he wrote For they that have used the office of a deacon well purchase to themselves a good degree, and great boldness in the faith which is in Christ Jesus (KJV).

    Read also: Investigate ‘bogus’ Loans in Akwa Ibom, Policy Alert Urges Fiscal Responsibility Commission

    So, in the course of time, the gentleman deacon was nominated to be a ruler on the theme Divine Mandate whose choir master was the great teacher, Akpabio. Never mind that the student and the teacher are no longer together. The choir has since been disbanded.

    A cursory look into the Holy Book in Roman’s chapter 13: 1-4 states: … For there is no power but of God: the powers that be are ordained of God. For rulers are not a terror to good works, but to the evil… For he is the minister of God to thee for good...  But in the Holman version HCSB it reads For government is God’s servant for your good…’’

    So, it was that at his ascension to the exalted throne of Governor of Akwa Ibom State on May 29, 2015, a renowned Apostle who today is the General Secretary of the Pentecostal Fellowship of Nigeria anointed him to commence his reign for the good of Akwa Ibom State and Nigeria. His deaconry was called forth to bear fruit. The quality of the fruit is now the subject of many questions today.

    The deacon of 2015 is now in the Completion Agenda Phase under “Maintain Peace Movement (MPM)’’ mantra and would not brook any criticism or dissension no matter how subtle. He has since transited from the cave of Adullam (1 Samuel 22:2) in 2018 through Only GOD to Hebron (2 Samuel 5) as was witnessed at the burial outing for his late father, the great teacher in 2021 where all of Nigeria and beyond was represented. Little wonder why he must install a successor no matter the cost.

    Perhaps to achieve his completion agenda, the governor has sought for a loan of #150 billion through a mix of financial instruments from a consortium of banks. Already, Akwa Ibom domestic debt profile stands at N389.55 billion. He has cajoled, caressed and hoodwinked the State House of Assembly to lend credence to his “due process” by authorising the loan request.

    Some people in his cabinet argue that it was not really loan. According to them, the loan is tied to about N900 billion excess crude oil refunds by the Federal Government to the state government’s coffers. The court gave verdict to the state government. In short, the loan collection is akin to putting price tags on the chickens before they are hatched.

    Questions have arisen, some emotional, some technical, some outright angst in what is seen as matters arising. What aspects of the completion agenda are to be served within the time frame left before the expiration of his tenure?  A blanket approval of #150 billion without key deliverables or Key Performance Indicators with timelines has simply pointed to a Trojan horse.

    As a governor, he should have informed the House of Assembly what portion of the complex financial instruments would liquidate the huge outstanding pensions, gratuities of many pensioners whose youthful life served the struggle for the survival of our people in the decades since the creation of Akwa Ibom State. That way, he would have etched his name in the Book of records in heaven as a reliever of the distressed. Do you remember the Beatitudes?

    Truth be told that the Spirit of the words in 1 Timothy 3:13 will certainly not leave the ruler and his courtiers in AKHA without scars. Is this hasty bogus loan request in the garb of financial instruments an echo or manifestation of the “Vulture Leadership Theory” that operates in Akwa Ibom State?

    Many voices have risen against the loans. The Governor who harps on using the loan packages to complete ongoing development projects does not satiate the fears of dissenters. The opposing views are not haters of good things but advocates of Akwa Ibom project. Neither are supporters of the loans lovers of government in sincerest sense of it. The present state executive officer would leave the seat, but the incoming occupants of the office may struggle to defray the financial burden if the monies were not judiciously utilized or tied to projects for speedy repayment.

    When the government and the people are in the same page in the loans collection, the efforts would be appreciated. But once the people are bereft of the dividends of the loans, they harbour suspicion and antagonism against the government, which could be detrimental to the peaceful coexistence and prosperity of the society.

     

     

     

    Christ Jesus Completion Agenda Divine Mandate Hebron (2 Samuel 5) House of Assembly- AKHA Maintain Peace Movement-MPM Pentecostal Fellowship of Nigeria
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