Akpabio Administration sinks Akwa Ibom in debt!

As the tenure of Akwa Ibom State Governor, Godswill Akpabio, winds to a close, concerned indigenes of the state are deeply worried about the huge debt profile of the oil-rich state that receives the highest allocation from the federation account and wondering whether his successor would have funds for developmental projects.


According to our sources, the adminstration is currenly owing contractors and banks huge sums of money in excess of N500 billion.
Although Akpabio would have the world believe that he is leading a goverment which has plans for the "uncommon transformation" of the state, those who spoke to us during the week claimed that never in the history of the state has "the people suffered more than they have in these past eight years. In fact, I find it very easy to describe his administration as that which has brough uncommon hardship on the people", our sources stated.

Although the state receives the highest allocation from the federal government, observers insist that the administration has not in any way justified what is believed to be in the excess of 3trillion naira which it has earned in the past eight years. Sources for this amount which have been computed by those who monitor the state resources include monthly allocations from the Federation Account, Allocations from the Excess Crude Account, Sure- P Allocations since 2012 and Internally Generated Revenue among others.

Indigenes of the state are deeply worried that in spite of the huge sums of money that the state has recieved and the state of underdevelopment related to the resources available, the state government still finds it difficult to pay the salaries of its staff from time to time. They fear that Akpabio's successor may be unable to move the state forward.