There
have been a great deal of controversy and secrecy around the quantum and
composition of debts owed by Akwa
Ibom State
government to the banks and contractors, especially the portion incurred by the
Akpabio administration. The problem is exacerbated by the apparent cold war between the
incumbent governor Udom Emmanuel and his predecessor, Senator Godswill Akpabio,
over governance and political issues in the state.
Governor Emmanuel has persistently blamed his
lacklustre performance in the last three years on the huge debt burden he
inherited from his predecessor. He’s trenchantly criticized Akpabio for investing the state’s resources on
worthless projects like the Tropicana Entertainment Complex which had remained
uncompleted after over N150 billion had been sunk into it.
*Akpabio and Emmanuel |
Late last year, the governor complained
publicly that his administration was compelled to pay Julius Berger N6 billion
in a lump sum, in addition to an undertaking to make a monthly payment of a
billion naira to the construction company to offset government’s obligation.