Former Benue State Governor, Samuel Ortom, strongly refutes the claim made by his successor, Rev Fr Hyacinth Alia, that they inherited a massive N359 billion debt.
Ortom’s media aide, Terver Akase, insists that this narrative is not only false but a deliberate attempt to mislead the public.
According to Ortom, at the point of his exit, he asserted that he was handing over a debt of N187 billion to his successor.
Ortom further clarified that during his tenure, his administration took proactive steps to negotiate and significantly reduce the debt, including a Debt Swap between Benue State and the Federal Government.
The total debt swap for the state and local government councils amounted to N71.6 billion.
Additionally, Ortom mentioned that they were expecting substantial inflows, such as accumulated Stamp Duties and refunds from Debt Swap with the Federal Government, which would have further reduced the debt profile to N45.2 billion.
Furthermore, Ortom’s administration had outstanding approvals awaiting disbursement from the federal government, including a balance of N41 billion in bailout funds and a N20 billion Central Bank of Nigeria facility.
They were also anticipating a refund of N9 billion for withdrawals related to subsidy and SURE-P.
Ortom highlighted their efforts in addressing the pension issue by domesticating federal government reforms through the Benue State Pension Law, 2019, which introduced the Contributory Pension Scheme.
They had raised over N8 billion under the scheme and were on the verge of meeting the requirements for full implementation.
Ortom emphasized that inheriting both assets and liabilities is a common occurrence in successive administrations, as it had also happened with previous governors.
He challenges the Alia administration to provide concrete evidence if they want the public to believe their claim that he left them with a N359 billion debt.
Lastly, Ortom questions the Alia administration’s transparency, urging them to disclose their federal allocations, internal revenue, and the state’s monthly wage bill, especially considering the increased federal allocations to states following the removal of oil subsidies.
