Imo State Governor, Hope Uzodimma, on Wednesday, presented the 2021 budget proposal tagged ” The Budget of Wealth Creation”.
The Governor however revealed that on assumption of office his administration inherited over 200 billion debt.
Reading his address at the hallowed chambers of Imo House of Assembly, Gov. Uzodimma,stated that his administration inherited a huge public debt profile of over two hundred billion naira(N200B), which he said was the highest among the South Eastern States.
Furthermore, Uzodimma said that his administration met a staggering debt/deficit ratio of over 136% with an internal generated revenue ratio of less than 33%,stressing that there was direct FAAC deduction of 15%, which also is highest amongst States in the Eastern region.