By Sunday Ogli, Makurdi
Benue State outgoing Governor, Samuel Ortom of the Peoples Democratic Party, PDP, Sunday, formerly handed over to the incoming Governor, Rev. Fr. Hyacinth Alia of the All Progressives Congress, APC.
The ceremony took place at the Old Banquet Hall of Government House, Makurdi.
Governor Ortom disclosed that the total income to the state from the Statutory income, Value Added Tax, Vat, Internally Generated Revenue, IGR, grants and refunds amounted to 734.96 billion naira while expenditure is 735.6 billion naira, all between May 2015 and April 2023.
He said his administration incurred a debt profile of 187.56 billion which he said includes salary, pension arrears, loans, bonds and contractual obligations.
He, however, said his government took proactive steps, negotiated and secured a debt swap between the state and the federal government to the tune of 71.6billion naira.
The governor further disclosed that inflows being expected as backlog of accumulated Stamp Duties is 48billion naira while refund from Debt Swap with Federal Government is 22.95billion naira, making a total of 70.95 billion naira.
“Thus, by the time you discount or factor in the negotiated debt swap and the expected inflows, the State would attain a DEBT REDUCTION, bringing down the State’s debt profile to N45.2billion,” he stressed.
The governor also revealed that the State has outstanding approvals awaiting disbursement from the Federal Government including, balance of bailout, 41billion naira and CBN facilities (referred to as Central Bank of Nigeria DCR), N20billion.
He said between 2015 and 2023, his administration spent over N2.4billion on payment of gratuity and N24.4billion on pension at the State level.
Responding, the incoming Governor, Fr. Alia, thanked the outgoing Governor for his service to the state and also thanked those that turned out to witness the handing over ceremony.
