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| Rt. Hon. Chief Ifeanyi Ugwuanyi, Enugu State Governor |
The said
loans were in response to the negative development in the nation’s oil sector
which has adversely reduced the state’s revenue allocation from federation
account to a level that is not encouraging. It is on record that Enugu state is
third from the bottom of the federation account and a civil service state
depending on the federal allocation for the execution of most of her capital
projects.
Today, the
story is no longer the same, as the revenue of the state like every other
states of the federation keeps dwindling to an all-time-low, making it
difficult for the state government to fulfill his campaign promises to the
people of the state.
It is
therefore, encouraging to note that the Federal Government through the National Economic Council (NEC) saw the
wisdom to offer bailouts to most states to enable them offset workers’ salaries
and other entitlements relating to their welfare and assist the states execute
some capital projects.
This
basically informed the reason the Enugu State Government recently embarked on
the processes for the procurement of the funds to enable it consolidate on the
on-going developmental projects in the state and deal with the issues of
outstanding salaries for casual workers, pension and pension arrears and
subventions for parastatals, institutions and boards in order to alleviate the
sufferings of the workers in these government establishments which rely on the
subventions to pay salaries.
Some of these
government establishments include:
·
Institute of Management and Technology (IMT)
·
Enugu State Transport Company (ENTRACO)
·
Daily Star
·
Enugu State Water Corporation.
On the
uniqueness, safety and convenient of the loans, it is pertinent to note that
the said loans which are based on the outcome of the National Economic Council
(NEC) meeting of June 2015, are to be secured by Excess Crude Account (ECA).
Interestingly, the loans carry a single digit interest rate of nine per cent
and tenure of 20 years repayment.
In view of
the foregoing, the negative misconception being adduced to the loans by a
national newspaper is not only incorrect but also misleading. First, it is
incorrect and a misrepresentation of facts to allege that Enugu State has not
received the bailout funds. The truth is that the state has complied with all
the requirements by the CBN for the loans and has submitted to the apex bank
all the necessary documents towards accessing the bailout funds for workers’
entitlements and the loan for infrastructural and developmental projects.
Secondly,
the news report on page 38 of vanguard newspaper of Wednesday, September 23,
2015, entitled “Enugu House Secretly Approves N14.2billion for Ugwuanyi” is not
only false and mischievous but also another failed attempt to give the
processes of the approval a wrong interpretation.
The fact is
that there was no secrecy in the processes of the approval for the procurement
of the said loans as was erroneously represented in the said publication. The
proceedings for the authorization of the loans by the Enugu State House of
Assembly followed due process, was done in the open in the presence of the
media and has no secrecy attached to it.
May I
therefore, state that the loans are in the overall interest of the people of
the state who will eventually reap the benefits associated with it in the areas
of workers’ welfare, infrastructural development, advancement of good
governance and other people-oriented programmes of the Gov. Ifeanyi
Ugwuanyi-led administration in Enugu State. The Governor, by this move, has
demonstrated once again his unflinching commitment to selfless service and the
actualization of his 4-point agenda which he holds very dear to his heart.
In spite of
the economic challenges, Gov. Ugwuanyi has made tremendous achievements in
providing quality leadership and infrastructural development in the state. The
governor has also introduced chains of innovations and ideas aimed at boosting
the Internally Generated Revenue (IGR) of the state and making Enugu State the
investment destination of choice in the South East geo-political zone. He has
equally maintained the tradition of prompt payment of salaries of workers in
the Ministries.
The CBN
loans will no doubt consolidate on these remarkable achievements and facilitate
his administration’s drive to bring good governance to the doorsteps of the
people of the state with a firm commitment to their welfare as true heroes of
democracy. It is therefore the responsibility of the public especially the
people of the state to continue to give the present administration the support
and cooperation it deserves to move the state forward. (vanguard)
Louis Amoke
is the Senior Special Assistant on Media to the Enugu State Governor, Rt. Hon.
Chief Ifeanyi Ugwuanyi.
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