Print ArticleWhen in February this year His Excellency, Governor Ikedi Ohakim and his bunch of merry men, that are the honourable members of the Imo State House of Assembly, jointly approved a budget of N90 billion for the fiscal year 2008, a whopping one hundred percent (100%) increase above his predecessor, Achike Udenwa´s fiscal year 2007 budget, I countered this reckless behaviour with an article posted in this website and other publications titled "Governor Ohakim´s Phantom Budget." In that article I posited that it is impossible for Governor Ohakim and his bunch of merry men to raise the N90 billion for Achike Udenwa´s budget of N43.4 billion for the fiscal year 2007 was not even wholly realised.
I wrote: "Going back to the original figure of N87.302 billion naira as presented by governor Ohakim and christened "Budget of Great Opportunity" one wonders what opportunity this phantom budget will present to the long suffering people of Imo State. Phantom in the sense that this figure is totally unrealistic; an illusion. Imo State cannot and will not generate half of that figure let alone the N90 billion naira finally approved by the hoodlums in the House of Assembly."
I further went to state: "A further breakdown of Ohakim´s budget shows a sectoral allocation of N52.8 billion naira alone to capital projects and recurrent expenditure of N34.4 billion naira. The capital projects allocation of N52.8 billion naira is more than the total income that will be accruable to Imo state for the whole of 2008 fiscal year. What does this indicate? Nothing but failure in all aspects of Ohakim´s governance. Failure to plan properly is planning to fail. Ohakim has planned to fail the people of Imo state."
Governor Ikedi Ohakim via his chief spokesman, Steve Osuji vehemently challenged my deposition via an article again posted in this website and other publications titled "Re: Governor Ohakim´s Phantom Budget." In the response, Steve opening salvo was:
"Chidi Anyaeche´s article of the above title posted on the web (Sahara Reporters) really does not require any reasoned response. It is merely a low quality diatribe churned out by an obviously disgruntled politician. Anyaeche claimed to have written from London but that piece could have been written from some Lagbole slum."
Steve further went on to write:
"Yes, Chidi has a good point raising question as to the source of funding for a 100 percentage increase in Imo budget in just one year. Many worthy Imo people had asked similar questions. But Governor Ohakim has responded at numerous fora that he would cut waste; which is quite huge currently. He has said that he would drive relentlessly, the internally generated revenue (IGR) from N400m per annum to about N2 billion per month.
The governor has vowed to eliminate ghost workers which drain a huge chunk of the state´s recurrent expenditure. He insists he would reverse the trend across the country where more revenue is poured on salaries and emoluments instead of being deployed to growth, development and benefit for all. He has promised to make people pay tax in Imo."
Steve´s statement above in effect stated how the budgetary sum of N90 billion naira will be raised by Governor Ohakim´s administration. This again I refuted in another publication.
On Steve´s rejoinder, I stated:
" it is then perfectly logical to conclude that for Ohakim to be able to double his budget in 2008 fiscal year, the following scenario has to be met by Abuja. Either Abuja´s budget is based on crude oil price of $80 USD per barrel for 2.5 million barrels per day or $40 USD per barrel for 5 million barrels per day. This is not the case and this is my point in categorically stating that Ohakim´s 2008 budget of N90 billion naira is simply idiotic, period. May I reiterate once more that Imo derives circa 95% of its revenue from Abuja.
Alas, I have been proved right. Governor Ohakim´s administration last month (August 2008) assented to seven bills passed by his bunch of merry men that I will now refer to as dishonorable members of the state House of Assembly. Interestingly, one of the bills is known as Imo State Bonds Law No.6, 2008.
This Bonds Law gave legal backing for Governor Ohakim to borrow N40 billion naira form the capital market to ´develop´ Imo state. Governor Ohakim has now resorted to mortgaging the future of Imo state by borrowing N40 billion naira to meet his budget shortfall despite his assertion that:
"He would drive relentlessly, the internally generated revenue (IGR) from N400m per annum to about N2 billion per month."
As one of the avenues to generate the N90 billion naira budget.
Governor Ohakim never told his people overtly that he will borrow N40 billion naira to procure taxis, to clean Owerri and to partner NGO´s. He has, very cleverly, sneaked this borrowing requirement in.
His Excellency, Governor Ikedi Godson Ohakim in his welcome address read during President Umaru Yar ´Adua´s state visit to Imo state on January 21, 2008 said:
" Mr. President, when we came, we promised to bring happiness to our people."
Instead of bringing this happiness to the good people of Imo state, Governor Ohakim and his bunch of merry men will be leaving Imo, a sad state, a desolate state. A state burdened with debt of over N40 billion (in his first year in power) and more to come. The fate of future generations has been mortgaged by these reprobates in power.
Ochinanwata this is not your contract with the people. Ochinanwata this is not your contract with God. Ochinanwata you are indeed taking Imo state for a ride. The people are watching. Odenigbo is documenting.
I wrote: "Going back to the original figure of N87.302 billion naira as presented by governor Ohakim and christened "Budget of Great Opportunity" one wonders what opportunity this phantom budget will present to the long suffering people of Imo State. Phantom in the sense that this figure is totally unrealistic; an illusion. Imo State cannot and will not generate half of that figure let alone the N90 billion naira finally approved by the hoodlums in the House of Assembly."
I further went to state: "A further breakdown of Ohakim´s budget shows a sectoral allocation of N52.8 billion naira alone to capital projects and recurrent expenditure of N34.4 billion naira. The capital projects allocation of N52.8 billion naira is more than the total income that will be accruable to Imo state for the whole of 2008 fiscal year. What does this indicate? Nothing but failure in all aspects of Ohakim´s governance. Failure to plan properly is planning to fail. Ohakim has planned to fail the people of Imo state."
Governor Ikedi Ohakim via his chief spokesman, Steve Osuji vehemently challenged my deposition via an article again posted in this website and other publications titled "Re: Governor Ohakim´s Phantom Budget." In the response, Steve opening salvo was:
"Chidi Anyaeche´s article of the above title posted on the web (Sahara Reporters) really does not require any reasoned response. It is merely a low quality diatribe churned out by an obviously disgruntled politician. Anyaeche claimed to have written from London but that piece could have been written from some Lagbole slum."
Steve further went on to write:
"Yes, Chidi has a good point raising question as to the source of funding for a 100 percentage increase in Imo budget in just one year. Many worthy Imo people had asked similar questions. But Governor Ohakim has responded at numerous fora that he would cut waste; which is quite huge currently. He has said that he would drive relentlessly, the internally generated revenue (IGR) from N400m per annum to about N2 billion per month.
The governor has vowed to eliminate ghost workers which drain a huge chunk of the state´s recurrent expenditure. He insists he would reverse the trend across the country where more revenue is poured on salaries and emoluments instead of being deployed to growth, development and benefit for all. He has promised to make people pay tax in Imo."
Steve´s statement above in effect stated how the budgetary sum of N90 billion naira will be raised by Governor Ohakim´s administration. This again I refuted in another publication.
On Steve´s rejoinder, I stated:
" it is then perfectly logical to conclude that for Ohakim to be able to double his budget in 2008 fiscal year, the following scenario has to be met by Abuja. Either Abuja´s budget is based on crude oil price of $80 USD per barrel for 2.5 million barrels per day or $40 USD per barrel for 5 million barrels per day. This is not the case and this is my point in categorically stating that Ohakim´s 2008 budget of N90 billion naira is simply idiotic, period. May I reiterate once more that Imo derives circa 95% of its revenue from Abuja.
Alas, I have been proved right. Governor Ohakim´s administration last month (August 2008) assented to seven bills passed by his bunch of merry men that I will now refer to as dishonorable members of the state House of Assembly. Interestingly, one of the bills is known as Imo State Bonds Law No.6, 2008.
This Bonds Law gave legal backing for Governor Ohakim to borrow N40 billion naira form the capital market to ´develop´ Imo state. Governor Ohakim has now resorted to mortgaging the future of Imo state by borrowing N40 billion naira to meet his budget shortfall despite his assertion that:
"He would drive relentlessly, the internally generated revenue (IGR) from N400m per annum to about N2 billion per month."
As one of the avenues to generate the N90 billion naira budget.
Governor Ohakim never told his people overtly that he will borrow N40 billion naira to procure taxis, to clean Owerri and to partner NGO´s. He has, very cleverly, sneaked this borrowing requirement in.
His Excellency, Governor Ikedi Godson Ohakim in his welcome address read during President Umaru Yar ´Adua´s state visit to Imo state on January 21, 2008 said:
" Mr. President, when we came, we promised to bring happiness to our people."
Instead of bringing this happiness to the good people of Imo state, Governor Ohakim and his bunch of merry men will be leaving Imo, a sad state, a desolate state. A state burdened with debt of over N40 billion (in his first year in power) and more to come. The fate of future generations has been mortgaged by these reprobates in power.
Ochinanwata this is not your contract with the people. Ochinanwata this is not your contract with God. Ochinanwata you are indeed taking Imo state for a ride. The people are watching. Odenigbo is documenting.
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