₦airaland Forum

Who is scared, pls? Cos I am!

Here are the issues raised by the report.... a dozen and 3. Please lets leave sentiments and deal with the issues:

1. Enugu’s 7.8 IGR is the lowest percentile, compared to the other South East states.
2. Dependence on crude revenue/federal allocation: Revenue estimates in the State suggest that about 85% and 75% of the revenue was sourced through FAAC in 2012 and 2013, respectively - talk about Feeding Bottle Federalism.
3. The State has not been able to produce acceptable/realistic medium-term fiscal documents
4. Enugu runs into deficits because it lacks the mechanism to forecast the macroeconomic environment and revenue within a fiscal year.
5. Today, therefore, Enugu is sweating profusely under the heavy weight of loans/debts, which purposes and applications leave so much to be deserved.
6. Besides, the manner in which these requests are made, are in complete violation of the Fiscal Responsibility Act and further contravenes all laid down rules for an effective fiscal regime.
7. The observed ambivalence and the lack of coordination amongst the ongoing projects have compounded governance in the State.
8. There is complete absence of a Public Private Partnership (PPP) plan. In fact, so-called PPP in the State is more of a conjecture by Chime Administration for the continued deceit of Enugu people. The same goes for the continued remark about financing on-going projects.
9. The standard practice is for loans to be investment-driven or be able to catalyse production and development as in the case of key infrastructure and it should be able to offset itself. It is not really so in Enugu. Between 2011 and 2014, a total of N4.8 billion has been requested from various Commercial Banks in loans to fund the secondary education level. Sadly, they were largely ill targeted. For instance, how would 16-seater buses distributed to secondary schools with a loan of over N1.5 billion address the infrastructural decay and poor teacher morale arising from poor and inconsistent salaries?
10. How would the N13 billion Secretariat being built with loans offset the loan?

11. Indeed, the comparative assessment of revenue, expenditure, and debt stock of Enugu state descriptively portend increased danger of a bubble ready to burst.

12. In conclusion, it is imperative to warn that generally, the impact of huge public debt on economic growth may not be immediate, but could be overwhelming in the long run if it is not utilized judiciously. This makes the current debt burden in Enugu State worrisome and humongous with disastrous consequences if not checkmated immediately.

13. Enugu State is borrowing too much and thus has to bear the saddle of servicing high levels of debt. When debt is too high, as in Enugu’s case, the ability of the current State Government or future administrations to finance it decreases, leading to a high probability of default and subsequent downgrading by creditors. Too bad!

14. There is also the moral burden of a departing government acquiring an N11 billion loan instead of worrying about offsetting existing huge debts.

15. The idea of the House approving the loan in a closed-door session, and the rising political temperature in Enugu PDP over 2015, have therefore led Enugu groups and the opposition to allege, and rationally so, that the loan is an election largesse.


I will summarise all the borrowings listed.

Intersting comments from nwa ala, Okwy:

Enugu PDP Ward Congress: Chime suffers setback in Abuja Court
Discussion on Vanguard News 1 comments
Okwy a day ago

The noose is tightening around the Emperror. Chime is a hopeless betrayer.



Enugu Crisis: PDP Denies Plan by Chime, Others to Leave Party, Articles | THISDAY LIVE
Okwy a day ago

Don't mind the sly man. Chime cannot be trusted. He was making peace with cudgel in hand. On one hand, he reached an understanding with the Ekweremadu camp before President Jonathan, then he returned to Enugu only to have his people file suit No.

E/439/2014 seeking to stop the Deputy Chairman of Enugu PDP, Elder David Aja from parading himself as Acting Chairman of the Enugu PDP. But Aja is the rightful Acting Chairman, and also the only person empowered to convene a meeting of Enugu PDP in line with the PDP constitution. The PDP National Working Committee also affirmed the position of party's Constitution at its 388th meeting on 30th October and conveyed same in writing to the PDP, Enugu, but only for Emperor Chime and turncoat Ken Nnamani to disobey the constitution and the NWC's directive to summon another illegal meeting to purportedly affirm Ikeje Asogwa as Acting Chairman.

Two, Chime purportedly reached a peace agreement and wants to stay in PDP, but he sent his fronts to go to and obtain a black market injunction from the notorious Chief Judge of the Enugu State High Court against the November 1, 2014 PDP Ward Congresses.

Meanwhile, let it be known that what Chime told some PDP stakeholders he invited to the Enugu meeting earlier this week to the effect that he remained in the PDP was because he was expecting to get the news of the cancellation of the Ward Congress by the PDP NWC meeting holding in Abuja that day. Unfortunately for him, the NWC never did any such thing, even though he was hoping that that the 500 million naira bribe he has been boasting that the gave to some members of the national leadership would work for him to that effect. Only Lagos and one other state's congresses were cancelled. In fact, more disappointing for the Governor, the same PDP lawyer he thought he had bought over went to court the same day to file an amended affidavit based on the true facts made available to him by the National Organising Secretary to affirm that indeed the ward congresses held in Enugu. Thus he overrode his earlier submission to the contrary.

he also told the meeting that they all were in Abuja where a red carpet was rolled out for Jonathan as the consensus candidate and boasted that Jonathan cannot turn around to stop him from imposing his own consensus candidate because what is good for Abuja is good for Enugu.

So, Chime is now in a tight corner. Now that everything is working against him, let us see how he remains in the PDP as boasted.




Court Declares Aja Authentic PDP Chairman in Enugu, Articles | THISDAY LIVE
Okwy 3 days ago

Truth triumphing over falsehood and impunity. Enugu Governor is gradually changing his name to Sullivan Sorry Iheanachoghi Chime


11bn loan: Enugu Assembly justifies approval
Okwy 3 days ago

I would have been surprised if he had said something different. What else could one have expected from this chicken House of Assembly. A big band of rogues. Let UBA grant the facility and let them see if Enugu masses won't bring the roof down.



PDP Ward Congresses: Enugu, Delta, Kwara Stakeholders Petition NWC over Delegates’ List, Articles | THISDAY LIVE
Okwy OwelleofEnugu 3 days ago

Shut up. Chime camp is a band of bad losers. You people tried to hijack result sheets for the Ward Congress and you failed. Then you people turned around to claim that there was no such congress. Political kidnappers you people are. Meanwhile, the PDP has filed an amended affidavit based on emerging facts to affirm that the ward congress held in Enugu. The Federal High Court in Abuja presided over by Justice C. Chukwu just ruled that Ajah is the authentic Chairman. So, what are you political thugs saying. Shame on you Chime camp.



Court declares Elder Aja authentic Enugu PDP Chairman
Okwy 3 days ago

Now, the truth is prevailing. Chime and his "madam at the top"- Ifeoma Nwobodo are on their way to political Golgotha. He wanted to impose an illegal Chairman on Enugu PDP with his usual impunity. Now, in addition to the PDP National Working Committee verdict in line with the PDP Constitution, the court has also floored the Chime and Asogwa contraption. The imposition of Asogwa, which the Electoral Panel from Abuja for the Ward Congresses did not recognise and couldn't have worked, plus the failure of Emeka Offor (all the way from Anambra State), Chime, Ken Nnamani, and Asogwa (in fact the Chime camp) to hijack the congress materials to write results in theor bedrooms as in the local government elections were the reasons they claimed there was no congress.


APC Faults Enugu Govt over N11bn Loan Request, Articles | THISDAY LIVE
Okwy 3 days ago

Any bank lending to Chime at this time is simply dashing out money to him and we the people will ensure it is not paid. This is roguery of the highest order.

Never trust Chime who said in the last election that it would be the last he would ask for votes, only to come now to say Senate even when he is not well.

See what a contributor Okwy said on disqus:



Don't mind the sly man. Chime cannot be trusted. He was making peace with cudgel in hand. On one hand, he reached an understanding with the Ekweremadu camp before President Jonathan, then he returned to Enugu only to have his people file suit No.

E/439/2014 seeking to stop the Deputy Chairman of Enugu PDP, Elder David Aja from parading himself as Acting Chairman of the Enugu PDP. But Aja is the rightful Acting Chairman, and also the only person empowered to convene a meeting of Enugu PDP in line with the PDP constitution. The PDP National Working Committee also affirmed the position of party's Constitution at its 388th meeting on 30th October and conveyed same in writing to the PDP, Enugu, but only for Emperor Chime and turncoat Ken Nnamani to disobey the constitution and the NWC's directive to summon another illegal meeting to purportedly affirm Ikeje Asogwa as Acting Chairman.

Two, Chime purportedly reached a peace agreement and wants to stay in PDP, but he sent his fronts to go to and obtain a black market injunction from the notorious Chief Judge of the Enugu State High Court against the November 1, 2014 PDP Ward Congresses.

Meanwhile, let it be known that what Chime told some PDP stakeholders he invited to the Enugu meeting earlier this week to the effect that he remained in the PDP was because he was expecting to get the news of the cancellation of the Ward Congress by the PDP NWC meeting holding in Abuja that day. Unfortunately for him, the NWC never did any such thing, even though he was hoping that that the 500 million naira bribe he has been boasting that the gave to some members of the national leadership would work for him to that effect. Only Lagos and one other state's congresses were cancelled. In fact, more disappointing for the Governor, the same PDP lawyer he thought he had bought over went to court the same day to file an amended affidavit based on the true facts made available to him by the National Organising Secretary to affirm that indeed the ward congresses held in Enugu. Thus he overrode his earlier submission to the contrary.

he also told the meeting that they all were in Abuja where a red carpet was rolled out for Jonathan as the consensus candidate and boasted that Jonathan cannot turn around to stop him from imposing his own consensus candidate because what is good for Abuja is good for Enugu.

So, Chime is now in a tight corner. Now that everything is working against him, let us see how he remains in the PDP as boasted.

Guys I was at the stakeholders briefing organised by Chime at the old govt lodge. His tone was nothing like what is portrayed above. He rather wanted everybody to support PDP saying anybody leaving PDP would not go far. He even asked the crowd whether he should stop fighting and they said no that he should fight on, something like that.

He brought up the matter of Hon Ugwuanyi and the crowd gathered still said they were following him. I was just disappointed that Uwguanyi did't say anything. Not even to greet the gathered people. My friend near me asked whether he was doll baby that doesn't talk. The State Party Chairman, Vita Abba is back and was there. He spoke after the governor.

But truly I left not knowing what the large meeting was called. There was no concrete message. Like an anti-climax.

The governor talked about a radio station that was opened just for him, Said he was ready to leave office that it is like a prison. He didn't talk about senate. I didn't hear that.

Enugu Assembly secretly approves Chime’s N11bn loan request

http://theadvocatengr.com/new/enugu-assembly-secretly-approves-chimes-n11bn-loan-request/


…bars Journalists from covering proceedings

MEMBERS of Enugu State House of Assembly Thursday held a secret sitting at the hallowed chambers, where it approved N11 billion loan requested by Governor Sullivan Chime, to enable his administration complete ongoing projects and also offset previous loan facility obtained from a new generation bank, which interest rate was jerked up astronomically.

The House in sitting passed a resolution that “this honorable House do resolve to authorize the state government to obtain loans of one billion naira and ten billion naira respectively from UBA Plc to re-finance facility from GTB and fund infrastructural projects in the state.”

Speaker of the House, Mr. Eugene Odo, had last week adjourned sitting till December 2, which observers believed was to prevent looming impeachment against him for crossing sword with the governor, following his formal declaration to run for governorship in 2015.

However, following the news of the emergency sitting Thursday, hordes of journalists besieged the Assembly but were prevented from entering the chambers for coverage of the proceedings.

Briefing newsmen after the secret meeting, the Deputy Leader of the House who is also the Chairman of House Committee on Information, Chief John Ukuta, said: “I can assure you it (closed door) wasn’t intentional but it is within the Standing Order of the House to us usually leave our public gallery closed or open and it has nothing to do with the sensitiveness of what was actually discussed.

“It is public knowledge now and obviously the people of Enugu State should be aware of what government is doing on their behalf. We went to move a motion for Enugu State government to obtain a loan of ten billion naira. The first one billion was for an earlier loan by government.”