Imo citizens may be grappling with
a staggering debt of over N80 billion if
Governor Rochas Okorocha goes ahead to
take the Federal Government approved N20
billion proposed bond issue.
Currently, the state is owing over N60 billion,
including the Federal Government’s N26
billion bailout fund, which is expected to be
paid back in 20 years.
The recent move by Governor Okorocha to
grab another N20 billion became manifest via
a letter from 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.
According to a document made available to
Vanguard, the Permanent Secretary’s mail
was sequel to Okorocha’s earlier letter, dated
May 2, 2015, requesting for approval to issue
on “an Irrevocable Standing Payment Order,
ISPO, for an amount of N402,957,780.91
monthly for 84 months in respect of a N20
billion ISG (Imo State Government) Bond
Issuance Programme” to Finance
Uncompleted and New Projects.”
The Federal Government drew Okorocha’s
attention to “the fact that based on the fall in
oil prices and the consequent decline of
revenues for governments at all levels in the
country, there is an urgent need to exercise
greater restraint with respect to borrowing to
avoid future debt unsustainability.”
While informing Governor Okorocha that the
Debt Management Office had advised that his
request could be granted, the Permanent
Secretary granted a “no objection” approval
for the government to go ahead with the
plan.
“Accordingly, I hereby grant a no objection for
the state government to issue an ISPO for a
monthly deduction of N402,957,780.91 for
84 months in respect of a N20 billion bond
for the completion of on-going infrastructure
development projects and for new
development projects in the state, subject to
the state meeting other requirements of the
Investment and Securities Act, 2007,” the
Permanent Secretary stated.
Meanwhile, a very senior civil servant, who
pleaded anonymity, told Vanguard that “the
Okorocha administration’s commitment to
pay approximately N403 million monthly and
for seven years, means that the payment
would outlive the present administration.”


www.vanguardngr.com/2015/09/okorocha-gets-approval-to-borrow-n20bn/

I love this Okorocha man

source

kayemdy:
source

added

This man is clueless and indeed mortgaging the future of Imo state and the region for 20 years and counting. While in APGA he came out with flying colors, and now after joining the cabal, you see he has failed woefully.

The greatest disaster that befell Igbo people second only to the civil war .

What does he need the money for? I went to FUTO yesterday, the road is so bad that aeroplanes may not safely fly above it. Owerri is littered with bad roads and salaries are not yet paid, yet he keeps borrowing! Nekede, Umuguma, Oji, World Bank, Irete, Ihiagwa and lots of places are almost unmotorable. What sort of man is this?

Is APC cursed Why is Okorocha bringing such curse to Ala Igbo..

80 billion igbese for your successor to come nd inherit.
This is called Incapability...

Who gave this thief permission to borrow?

slap1:
What does he need the money for? I went to FUTO yesterday, the road is so bad that aeroplanes may not safely fly above it. Owerri is littered with bad roads and salaries are not yet paid, yet he keeps borrowing! Nekede, Umuguma, Oji, World Bank, Irete, Ihiagwa and lots of places are almost unmotorable. What sort of man is this?

Bros I dey tells u...dat FUTO road don die finish

donholy28:
Bros I dey tells u...dat FUTO road don die finish

Thats the agreement he has since made when joining Tinubu and co. Its about mortgaging the future of Ndigbo to the cabal. This is the economic subjugation of a region and he has no shame. The Kaduna cabal is just borrowing what the West did to African greedy dictators via IMF and world bank and now domestically it is a repeat

Wasted!

The governor that is milky Imolites dry governor rochas mohammed and to even think he even Contested for Presidential primaries shows that our politicians have no shame

Ok

If it was the days of our ancestors,
Amadioha for don strike Rochas since

Okay...Check ma signature and see how m making ma cool cash

SS oil money will pay for the loan later.

menix:
Is APC cursed Why is Okorocha bringing such curse to Ala Igbo..

80 billion igbese for your successor to come nd inherit.
This is called Incapability...

You are the curse to Igboland idiiot. I thought you all claimed he borrowed 200billion in 2012 and now it is 80billion. Stop trying to run your brother down because of jealousy.

slap1:
What does he need the money for? I went to FUTO yesterday, the road is so bad that aeroplanes may not safely fly above it. Owerri is littered with bad roads and salaries are not yet paid, yet he keeps borrowing! Nekede, Umuguma, Oji, World Bank, Irete, Ihiagwa and lots of places are almost unmotorable. What sort of man is this?

Digest this you idiiot! When Jonathan deliberately scattered and abandoned Imo State y'all were happy.

http://sunnewsonline.com/new/apga-is-not-a-political-party-gov-rochas-okorocha-of-imo-state/

Your excellency, concerning the rural roads you
mentioned, I happen to come from Orogwe in Owerri
West here and our own road, for example is among
roads that were said to be tarred. Right now, as we
speak it’s not pliable as the contractor was only able
to work from Irete to somewhere around Ndegwu. I
also know that the road leading to Old Nekede has
collapsed. What do you have to say about that?


Okay, let me explain that.

The Orogwe road we aretalking about, I don’t know why it is still like that .Some of these rural roads, I don’t know, but I am happy to say that some of them have been done. Let
me tell you, I did not say we have overhauled all
roads. This will be coming in the second phase of the
programme for rural roads, but at least you have
admitted that some of them have been done.

The Nekede project is a Federal Government project just
like the Port Harcourt road and people keep
screaming that I should do something. What can you
do when the contract has been awarded to a national
contractor, Arab Contractors, who has abandoned the
project for lack of payment by the Federal
Government? Now, the same thing is applicable to
Nekede road. That of Nekede was awarded at about
N6 billion and to do the erosion control, but I couldn’t
have waited for the Federal Government. Right now,
as I am talking to you, work is going on there to at
least make it passable for people.

So, this government is very responsive. Our rural roads are
still our focus but we have not finished work on all of
them. We are not saying that we have overhauled or
constructed all rural roads in Imo State, but some
have been overhauled or constructed.

Abagworo:


You are the curse to Igboland idiiot. I thought you all claimed he borrowed 200billion in 2012 and now it is 80billion. Stop trying to run your brother down because of jealousy.

U re bereaved this morning
RIP to the deceased...

I thought this he-goat said he has attracted investment from Turkey. So after your cloak and dagger journey, all you have to show for it, is a grant to borrow more money. Mr Okorocha you are nothing but a big disgrace to your wife, children, mother, father, community and NDIGBO worldwide. For you to seek redemption, I implore you to be a man and commit suicide in order to wash out the stain of your shamelessness. And please if you can take Ngenekwenu with you, OUR LADY OF PERPETUAL FAITH MAY PRAY FOR YOU.

Nothing written against Okorocha's credible performance has been proven to be true. Not a single one. It is disheartening to even discover it is his fellow Igbos writing all these lies to dwindle his deserved popularity. They even ascribe Jonathan's failure to this great Igbo son. Isn't it disgraceful that these same people have shot themselves in the foot going by this thread and its source.

http://newtelegraphonline.com/youve-plunged-imo-into-n200bn-debt/

The Deputy Speaker of the House of Representatives and the governorship candidate of the Peoples Democratic Party (PDP) in Imo state Emeka Ihedioha, has accused the incumbent state Governor Rochas Okorocha, of plunging the state into a debt of over N200 billion, despite the huge allocation that accrued to the state in the last three and half years from the federation account.

Ihedioha, said the state of infrastructure in the state presently is not enough to justify the huge debt profile necessitated by the unguided borrowing embarked upon by Okorocha led administration in the state. The Speaker, expressed the position yesterday, during the flagged-off of his state-wide local government campaign at Oru East Council Area.According to the governorship flagbearer,

Okorocha, has borrowed a whopping N200 billion from commercial banks, which was not expended to any meaningful project that would have lifted the state.He said ,“It is saddening to note that Governor Okorocha has borrowed over N200billion since he assumed office with nothing tangible to show for it. The deceit and desecration of our values we have witnessed under his watch as Governor is alarming and ungodly.However, his time is up and we must show him the way out so that we can begin to restore the lost values and repair the collapsed infrastructures in Imo State.”

Abagworo:


Digest this you idiiot! When Jonathan deliberately scattered and abandoned Imo State y'all were happy.

http://sunnewsonline.com/new/apga-is-not-a-political-party-gov-rochas-okorocha-of-imo-state/

Your excellency, concerning the rural roads you
mentioned, I happen to come from Orogwe in Owerri
West here and our own road, for example is among
roads that were said to be tarred. Right now, as we
speak it’s not pliable as the contractor was only able
to work from Irete to somewhere around Ndegwu. I
also know that the road leading to Old Nekede has
collapsed. What do you have to say about that?


Okay, let me explain that.

The Orogwe road we aretalking about, I don’t know why it is still like that .Some of these rural roads, I don’t know, but I am happy to say that some of them have been done. Let
me tell you, I did not say we have overhauled all
roads. This will be coming in the second phase of the
programme for rural roads, but at least you have
admitted that some of them have been done.

The Nekede project is a Federal Government project just
like the Port Harcourt road and people keep
screaming that I should do something. What can you
do when the contract has been awarded to a national
contractor, Arab Contractors, who has abandoned the
project for lack of payment by the Federal
Government? Now, the same thing is applicable to
Nekede road. That of Nekede was awarded at about
N6 billion and to do the erosion control, but I couldn’t
have waited for the Federal Government. Right now,
as I am talking to you, work is going on there to at
least make it passable for people.

So, this government is very responsive. Our rural roads are
still our focus but we have not finished work on all of
them. We are not saying that we have overhauled or
constructed all rural roads in Imo State, but some
have been overhauled or constructed.

Swear on your life that there is not a iota of lies in all you have typed on this thread. If you have said just 1 lie, may the HOLYGHOST descend upon you and cripple your future.

Abagworo:
Nothing written against Okorocha's credible performance has been proven to be true. Not a single one. It is disheartening to even discover it is his fellow Igbos writing all these lies to dwindle his deserved popularity. They even ascribe Jonathan's failure to this great Igbo son. Isn't it disgraceful that these same people have shot themselves in the foot going by this thread and its source.

http://newtelegraphonline.com/youve-plunged-imo-into-n200bn-debt/

The Deputy Speaker of the House of Representatives and the governorship candidate of the Peoples Democratic Party (PDP) in Imo state Emeka Ihedioha, has accused the incumbent state Governor Rochas Okorocha, of plunging the state into a debt of over N200 billion, despite the huge allocation that accrued to the state in the last three and half years from the federation account.

Ihedioha, said the state of infrastructure in the state presently is not enough to justify the huge debt profile necessitated by the unguided borrowing embarked upon by Okorocha led administration in the state. The Speaker, expressed the position yesterday, during the flagged-off of his state-wide local government campaign at Oru East Council Area.According to the governorship flagbearer,

Okorocha, has borrowed a whopping N200 billion from commercial banks, which was not expended to any meaningful project that would have lifted the state.He said ,“It is saddening to note that Governor Okorocha has borrowed over N200billion since he assumed office with nothing tangible to show for it. The deceit and desecration of our values we have witnessed under his watch as Governor is alarming and ungodly.However, his time is up and we must show him the way out so that we can begin to restore the lost values and repair the collapsed infrastructures in Imo State.”

For the lies you have told here, may the HOLYGHOST cause you to be involved in an accident that will render you blind. Amen!

I wish that this Man would die on that seat

hinwazaka:

Swear on your life that there is not a iota of lies in all you have typed on this thread. If you have said just 1 lie, may the HOLYGHOST descend upon you and cripple your future.

I can never lie. If I did point it out. Only Jonathan's deranged supporters live and feed on lies.

Abagworo:


Digest this you idiiot! When Jonathan deliberately scattered and abandoned Imo State y'all were happy.

http://sunnewsonline.com/new/apga-is-not-a-political-party-gov-rochas-okorocha-of-imo-state/

Your excellency, concerning the rural roads you
mentioned, I happen to come from Orogwe in Owerri
West here and our own road, for example is among
roads that were said to be tarred. Right now, as we
speak it’s not pliable as the contractor was only able
to work from Irete to somewhere around Ndegwu. I
also know that the road leading to Old Nekede has
collapsed. What do you have to say about that?


Okay, let me explain that.

The Orogwe road we aretalking about, I don’t know why it is still like that .Some of these rural roads, I don’t know, but I am happy to say that some of them have been done. Let
me tell you, I did not say we have overhauled all
roads. This will be coming in the second phase of the
programme for rural roads, but at least you have
admitted that some of them have been done.

The Nekede project is a Federal Government project just
like the Port Harcourt road and people keep
screaming that I should do something. What can you
do when the contract has been awarded to a national
contractor, Arab Contractors, who has abandoned the
project for lack of payment by the Federal
Government? Now, the same thing is applicable to
Nekede road. That of Nekede was awarded at about
N6 billion and to do the erosion control, but I couldn’t
have waited for the Federal Government. Right now,
as I am talking to you, work is going on there to at
least make it passable for people.

So, this government is very responsive. Our rural roads are
still our focus but we have not finished work on all of
them. We are not saying that we have overhauled or
constructed all rural roads in Imo State, but some
have been overhauled or constructed.

How does a grown man (I assume) call another names? Don't you know how to politely express yourself? Tufiakwa! You need help. And your parents obviously failed in their responsibility of giving you a proper upbringing. Get well soon.

What's it with Apc states and debts and even more debts. From Lagos even owing Anambra, to Osun not even able to pay salaries, to Oyo, Edo and now Imo state. Please where are the Igbo elders to help in salvaging the situation before Okorocha finally destroys the great Imo state. God help us

slap1:
What does he need the money for? I went to FUTO yesterday, the road is so bad that aeroplanes may not safely fly above it. Owerri is littered with bad roads and salaries are not yet paid, yet he keeps borrowing! Nekede, Umuguma, Oji, World Bank, Irete, Ihiagwa and lots of places are almost unmotorable. What sort of man is this?

don't tell me that the road leading to Futo from nazi is still in a terrible state

APC -- Changing Nigeria from bad to worst.

Where are the opposition in the state? They will all keep quiet or go about their duties while this hippopotamus and his barrel of a wife grind my state to a halt! When elections are here, that is when they will start running up and down like headless chickens! Lazy watchdogs!!

slap1:


How does a grown man (I assume) call another names? Don't you know how to politely express yourself? Tufiakwa! You need help. And your parents obviously failed in their responsibility of giving you a proper upbringing. Get well soon.

The guy called Okorocha an idiiot. I therefore have every right to even punch him on sight. Okorocha is a Governor and the most important Igbo politician today.