From January to August 2018 (Eight months) the Federal Government remitted the net sum of N21.952 billion to the JAAC account of the 17 LGAs while the state executive got the net sum of N36.168 billion. When summed up, it amounted to the total net sum of N58.12 billion received by Ikpeazu’s government in just eight months.
While addressing newsmen in Feb. 2016, Gov. Ikpeazu said that the past administration of Theodore Orji left his with the wage bill of N2.7 billion but his government reduced it to N2.1 billion after verification exercise.
In other words, Abia State wage bill is N2.1 billion. It simply means that the 17 LGAs eight months FAAC allocation of N21.952 billion could have settled workers’ 10 months’ salaries.
Again, If Ikpeazu’s government was responsible and responsive enough, the N36.168 billion state executive FAAC allocation of eight months would have been enough to settle workers’ 17 months’ salaries which Ikpeazu claimed is N2.1 billion. Let’s also assumed that Ikpeazu’s government dedicated the entire Abia State eight months FAAC allocation of N58.12 billion to paying workers’ salaries, it would take care of workers 28 months’ salaries.
With Abia State monthly average FAAC Allocation of N7 billion, Ikpeazu’s government has no acceptable reason not to pay workers’ salaries which he claimed is N2.1 billion monthly.
The administration of Abia State becomes even more suspicious when you consider that Ikpeazu’s government received the sum of N22 billion from Paris Club Refunds alone (N10.6 billion, N5.7 billion and N5.7 billion being first, second and third tranche of Paris Club refunds).
It also received N14.2 billion in bailouts, which the state government quickly took advantage of to renegotiate its liabilities, including taking a 20-year loan of N14.15 billion at a nine per cent lending rate from the Central Bank of Nigeria (CBN) ostensibly for the settlement of outstanding wage bills.
However, despite all these funds which were exclusive of IGR that is believed to be in the region of N5 billion monthly, Ikpeazu’s government has plunged Abia State into a humongous debt of N104 billion. Abians, let’s ask Ikpeazu’s government what it has done with Abia State 2018 FAAC alone. Below is the breakdown of the 17 LGAs FAAC allocations for eight months- Jan. to Aug. 2018-:
Aba north – N1.124 billion
Aba south – N1.892 billion
Arochukwu –N1.313 billion
Bende – N1.345 billion
Ikwuano – N1.220 billion
Isialangwa north-N1.260 billion
Isialangwa south-N1.220 billion
Isuikwuato – N1.185 billion
Umunneochi – N1.286 billion
Obingwa – N1.311 billion
Ohafia – N1.443 billion
Osisioma – N1.386 billion
Ugwunagbo – N1.053 billion
Ukwa east – N994.694 million
Ukwa west – N1.043 billion
Umuahia north – N1.520 billion
Umuahia south – N1.308 billion
TOTAL —– N21.952 billion
Join me on Monday for Abia State 13% Oil Derivation.