IMO State Governor, Rochas Okorocha, yesterday disclosed that the state is insolvent, as its monthly wage bill has outstripped its monthly statutory allo­cation from the Federal Government. The governor said monthly servicing of the bailout fund has further compounded the situation.

This was just as he reiterated that there was no go­ing back on the state government’s decision to con­cession the management of parastatals.

Okorocha, who revealed this when he spoke to newsmen at the Government House in Owerri said the monthly wage of the state had always been high­er than what the state receives from federal alloca­tions and internally generated revenue.

“The monthly wage bill of the state is N4.2 bil­lion which is far higher than what we receive from federal allocation including the internally generated revenue which means that the state government has always been operating on a deficit. As at December 31, 2015 the state received N1.9 billion from the Federal Government while the monthly wage bill of the state for the same period was N4.2 billion.”

“We cannot continue to patch a cracked wall as if all is well, we need to break it down in order to rebuild it, and the current wage bill of the state is be­yond our capacity. Imo State now receives the least allocation among the South-East states because of the monthly repayment of the bailout fund which the state took from the Federal Government, a situation which has further compounded the financial situa­tion of the state.” The governor insisted that in spite of the financial dilemma of the state, no worker is being owed any salary.

http://sunnewsonline.com/new/imo-is-broke-okorocha/

Interesting

Who broke it?

First it was Osun now Imo state have joined the state of onigbese . But why won't they be broke when they used their state funds to sponsor Buhari presidential campaign

This con man has looted imo state dry.Very soon he would be competing with aregberascal for highest number of monthly owed salary

Idiotic abagworo come and defend your useless lord with his 600 million Christmas tree

The Aregbese of SouthEast and the only APC cult member in Igbo land

Imo is not broke. Okorocha should quit saying such trash.

Bro are u not ashamed of saying this?
Can't believe any state governor can't generate 20bn every month.. . ... cos that's not so difficult to do

Don't call Julius Berger to rebuild it cos of cos but call Baba Jugunu to rebuild it

byrron:
"There is no amount of revenue that is enough or a visionless and wasteful government" - Martin Onovo

Martin has rochas and king bubu in mind when he made this great statement

Okokobeoko he was so fast to collect the bailout fund, not knowing the implication, after acquiring more properties in Dubai with the bailout fund and posing with Emenike, and hot ladies in Vietnam you are here talking trash. Jack ass

So without federal allocation he can't run the state.


May be he should resign for a more serious Governor who can increase IGR

*kneels down,hands locked in prayers*

Thank you Lord for ex-governor peter Obi....Thank you Lord for Governor Obiano....Thank You Lord for Anambra state light of the entire black nation....while others are owing salaries...we are increasing ours....

Anambra obodo oma...chaiii.....

Thank goodness abia,enugu and ebonyi are towing the development crase line.....let okoroawusa and his apc folks ruin imo...imo people goofed by voting in this shameless man for another 4yrs.....how can a people be so gullible??....as you make your bed...so you lie on it.

leaders are born

PLEASE WHO WILL JAIL OKOROCHA!!!

WE NEED HIM IN JAIL AS SOON AS POSSIBLE.. .

Chiwude:
Imo is not broke. Okorocha should quit saying such trash.

for the first time Rochas is facing the reality. You want your governor to lie that all is well when in actual sense the State is broke, down and out? whoever that will rule imo state next will have to beg for another state to annex imo state. APC should stay very far from Akwaibom.

ekafine:


For the first time Rochas is facing the reality. You want your governor to lie that all is well when in actual sense the State is broke and down? whoever that will rule imo state next will have to beg for another state to annex imo state. APC should stay very far from Akwaibom.

YOU CAN SAY THAT AGAIN

in my own opinion which is imo, I gat nuffin to say. that s my own opinion.

APC sharing badluck everywhere

Very soon, our own governor will also come out and say ``Edo is broke'' make dem kontinu.

Okoroawusa is a disgrace to us Igbos! How can a well managed Imo state be broke? How can an Oil producing state like Imo be broke? Okorocha must tell Imo state people exactly what he did with their money.

APC chief apologist of the Igbos has ran Imo state into the ground. Change indeed!

blame GEJ

osesology:
Very soon, our own governor will also come out and say ``Edo is broke''
make dem kontinu.

Why una vote for APC

why are APC governments going broke?

from Osun to Imo to Nigeria

the welfarists clearly cant manage the economy

It's a pity

This man is simply useless and heartless

Ooohhhhh!


Another story for the gods......

Why are they always full of one complaint or the other.....This was just the way Aregberascal, the so called useless state of Osun governor started! Now he pays Osun workers half of their monthly salary.

They will start with little complains like this, just to alert the people of the state and others their predicaments and before we realize it they will start owing workers 12months of salary and start paying half salary.

Am just hoping this wouldn't be the portion of good people of Imo state. My prayers is that God will transform this country back to its good position and put an end to all this dilemma state our past leaders had placed us.

God bless Nigeria!
God bless republic of Africa!

BTW, check my signature for live testimonies on how to get rid excess ugly belly fats

[b]Rochas Okorocha used millions Naira to do Christmas decoration in December.

People like me who taught it wise to criticize him met condemnation from APC fanatics who see everything good with anything APC government does. God will judge you people o.

Why will Imo state not be broke when Rochas invested imo funds into APC presidential campaign with considering the plight of the common imo person.

Only a useless insensitive government will owe civil servant 7months salaries and wastes resources on frivolities.

[/b]

Nigeria, I hail thee
So a governor can say this .....

Lord save Nigeria

Only a beclouded buffoon will ask imo people to vote APC again. Okorocha was a wolve in sheep clothing who came as an APGA messiah to revealed his true colours later. Shame on Okorocha! Shame on APC