As he prepares to hand over power to Reverend Father Hyacinth Alia, the outgoing governor of Benue State, Samuel Ortom, has revealed that he is leaving behind a debt burden of N187.7 billion for the incoming administration.
Ortom made this disclosure at a ceremony held at the Government House in Makurdi on Sunday, where he presented the handover notes in three volumes to Alia.
Ortom said that the debt profile includes unpaid salary, pension arrears, loans and bonds among others.
He also said that the total income of the state during his eight years in office amounted to N734.9 billion as of April 2023.
The governor explained that his administration had negotiated a debt swap/reduction deal with the Federal Government to the tune of N97.716 billion.
He said that with an expected inflow of N48 billion, after a discount, the debt swap would be reduced to N45.2 billion, thereby bringing down the state’s total debt profile.
He further disclosed that his administration had secured approval of an N41 billion loan and a N20 billion Central Bank of Nigeria (CBN) facility, urging Alia’s administration to press for the release of the money when sworn in.
Ortom also said that his administration had raised N8 billion under the contributory pension scheme since the domestication of the pension law in the state, adding that the money will soon reach a threshold to clear all backlogs of pension owed retirees.
Ortom congratulated the incoming governor and advised him to soon after swearing in summon permanent secretaries of various ministries to provide him with needed briefs.
Alia thanked Ortom for his service to the state and promised to work for the development and peace of Benue.
Benue State is located in North-central Nigeria and is inhabited by the Tiv, Idoma, and other smaller ethnic groups. It is known as the Food Basket of the Nation because of its rich agricultural production.
