Okorocha Wants To Bankrupt Imo State – PDP Spits Fire

The Imo state chapter of the Peoples Democratic Party (PDP) has accused Governor Rochas Okorocha of attempting to drive the state to irredeemable indebtedness.


In a statement signed by its publicity secretary, Kizito Onuoha, the PDP criticized the governor for applying for another N20 billion loan after he just received over N26 billion bailout funds from the federal government.

Okoroca had made the request for the loan through a letter to the Federal Ministry of Finance, DMO/PMD/241//T/7, dated August 25, 2015, and signed by A. M. Daniel-Nwaobis, the permanent secretary, ministry of finance. The Federal Ministry of Finance had granted the request of the governor.

The PDP described Governor Okorocha’s move as a deliberate and calculated attempt to further bankrupt the state, Daily Sun reports.

According to the PDP, despite receiving N26 billion bailout funds, the Imo state government was still owing some workers their salary arrears and pensioners were still being owed up to 29 months.

The party said the state government needed to be questioned on what they did with bailout funds.

The statement read: “Having  taken a painstaking diagnosis on the current debt profile of the state, it is really disheartening that Imo state is already owing N63 billion and if the fresh loan of N20 billion is added, the state’s debt stock would be a whopping N83 billion, outside the over N100 billion debt owed local contractors in the state.

“It is rather unfortunate that the present government has not only decided to bankrupt the state but also to milk the state dry.”

The PDP alleged that the decision to take another loan was solely taken by Okorocha, who according to them has decided to run the state as a sole administrator.

Two days ago, in an interview with Naij.com, Dr Victor Ikechukwu Oye, the national chairman of the All Progressive Grand Alliance (APGA) had said Okorocha was being carried away by his office as the governor forgetting that the office is ephemeral and he is not going to be there forever.