Akwa Ibom State Governor, Pastor Umo Eno says projects executed by his administration are done without external borrowing.
Justifying the need for prudent management of resources, the governor explained that the State would be going round a vicious circle of perpetual indebtedness, to the advantage of its creditors, if it depends on loans or other external financial instruments to fund major investments and projects.
The Governor disclosed this in Uyo, Akwa Ibom State Capital during a meeting with foremost Ibibio socio-cultural Organization.
Mboho Mkparawa Ibibio.
Pastor Umo Eno who emphasised on his administration’s determination to prudently utilize government funds said projects embarked upon by his administration,
including securing a N60B billion procurement deal for two Bombardier CRJ 900 aircrafts to further expand the fleet of the state-owned airline, Ibom Air has been done without any external loan.
He also hinted that a total of 35 billion naira out of the backlog of gratuity arrears would have been paid to beneficiaries at the end of September since his assumption of office last year.
According to him, nearly 50% of the accumulated backlog of decades-long gratuity burden of retired workers in the State would be offset after a further release expected within the month.
Reaffirming his administration’s resolve to utilize State revenue in the most efficient manner to fund development projects and make profitable investments for the State devoid of financial facilities that would put the state in perpetual indebtedness, the Governor said 25 projects will be kick-started and completed before the second anniversary of his administration, all without borrowing.
He therefore asserted that his administration will rather strive to reserve funds from revenues accruing to the State for such purposes that would place Akwa Ibom people as primary beneficiaries of dividends from State Government investments.
In his words: “Since I came into office about fifteen months ago, we have undertaken very gigantic projects while still pursuing some more. About 25 projects are to be kick-started between now to when we will celebrate our second year in office.
“Recently, the executive Council of the State approved that we support Ibom Air to acquire two brand new aircrafts.
So I am very proud to announce to Mboho that we have released 60 billion Naira to Ibom Air to acquire two new CRJ900 aircraft from the state Government coffers.
“Our state must have an investment fund. We must deliberately and intentionally put away funds, to reinvest and put our state amongst the states that will continue to take the lead. If we were flittering away state funds, this state would not have afforded to purchase the new aircrafts.”
Governor Eno thanked the International President of Mboho Mkparawa Ibibio, Akparawa James Edet, for galvanizing support for his emergence as Governor and honouring him with the special gathering, as he commended the organisation’s pivotal role in uniting the various ethnic groups that make Akwa Ibom State, pledging to do his best to make the Mboho, by extension, entire Akwa Ibom proud as their ambassador.
Earlier in his address, the International President of Mboho Mkparawa Ibibio, Akparawa James Edet, expressed delight over the privilege of hosting “Governor (Akparawa) Umo Eno,” describing him as a quintessential Ibibio son and great ambassador of the Mboho, while also acknowledging his magnanimity in appointing several members of the organisation into his administration.
Akparawa James Edet affirmed that the Governor, through his administration’s ARISE Agenda, has touched the critical sectors of the state and has moved the State forward at an impressive pace of development.
He therefore conveyed the commitment of the Mboho to supporting Governor Umo Eno’s administration and their endorsement for his continuity in office into a second term.
