Owerri Branch NBA urges Imo Assembly to speak on state’s debt profile

The chairman, Mr. Lawrence Nwakaeti, made this statement, while speaking to our reporter in Owerri. He argued that the State House of Assembly, by law must have approved for the executive to take an action on the issue of borrowing money. It will be recalled that a group called Imo Economic Development Initiative ,IEDI, led by it’s chairman Prof. Maurice Iwu, alleged that the domestic debt of Imo State, has hit N93.27 billion. Reacting, NBA chairman said: “This can’t be good. A situation where we accumulate debt is mortgaging the future of Imolites. I think this should be condemned. “And I know that the present administration has received more funds than any other government in the past.” He added that, “For the past seven years, the present government has received more funding than all the state governments that has ever ruled this state. “Government is there to serve the people and when you want to participate in governance, you have to go through your elected representative.” On his views on the issue of Imo debt profile, Nwakaeti said: “We have the governor at the head and we have the State House of Assembly, representing the various constituencies of the 27 local government areas. “These people are holding this power in trust, and the fact that there is a periodic change of government does not mean that people will fold their hands and allow government to destroy the very essence of the society.]]>