Imo State is financially troubled – Okorocha
Imo State is financially troubled - Okorocha
IMO State Governor, Rochas Okorocha, yesterday made known that the state is financially troubled, as its regular monthly wage bill has actually overtaken its month-to-month statutory appropriation from the Federal Government. The governor claimed regular monthly maintenance of the bailout fund has even more compounded the scenario.
This was just as he stated that there was no going back on the state government's decision to concession the administration of parastatals.
Okorocha, who exposed this when he talked with newsmen at the Government House in Owerri said the monthly wage of the state had consistently been more than exactly what the state obtains from government allotments as well as internally generated profits.
"The month-to-month wage bill of the state is N4.2 billion which is much more than just what we receive from federal allocation consisting of the inside created profits which indicates that the state government has always been operating on a shortage. As at December 31, 2015 the state got N1.9 billion from the Federal Government while the month-to-month wage bill of the state for the very same duration was N4.2 billion.".
"We could not remain to patch a broken wall as if all is well, we need to simplify in order to rebuild it, as well as the existing wage bill of the state is past our capability. Imo State currently receives the least allocation amongst the South-East states due to the regular monthly payment of the bailout fund which the state took from the Federal Government, a circumstance which has additionally intensified the financial scenario of the state." The governor insisted that even with the economic predicament of the state, no employee is being owed any sort of salary.