By Ikenna Orioha
As hunger, suffering, crime and insecurity bedevil Nigeria given to bad governance, excess greed, inflation, bad economy, coupled with lack of infrastructure and job, a group, Civil Society Legislative Advocacy Center (CISCLAC) in consonant with Christian Aid and Tax Justice/Governance Platform, Imo State, had revealed that Imo State ranks highest in unemployment in South East with high debt profile.
The groups made the revelation when they spoke to journalists in Owerri through the Coordinator, Tax Justice and Governance Platform, Chibundu Uchegbu, in Owerri, on Friday.
They regretted that unemployment, poor infrastructure, dwindling economy, high inflation, food scarcity and hardship in the state are caused by lack of vision, incompetence among rulers who they said are bent on satisfying their individual pockets at the detriment of the people.
Uchegbu hinted that NBS statistics on 30th June 2023 stated that Imo State recorded highest debt stock with highest unemployment level in South East with Ebonyi State recording lowest.
The concerned groups pointed out that "alongside soaring inflation and plunging currency, Nigeria is also battling record levels of government high debts, high unemployment, power shortages and declining oil production. As a state in the federating unit, Imo State is not immune from the outlined crises".
The group observed that "the data from NBS as at 30th June, 2023, shows that while the domestic debt profile of the state stands at N220, 838, 595, 301; the foreign debt profile is at the same time stands at disturbing $77, 813, 615. This, coupled with unemployment rate that levels at 56.6% as at 30th June, 2023".
Uchegbu maintained that the "escalating debt burden in the state has profound implications on the well-being of over 6.7 million Imo population. There is possible link between debt and unemployment. With the record released by NBS as at 30th June, 2023, Imo State posted the highest total debt stock, also recorded the highest unemployment level in the South East, while Ebonyi State with the lowest debt stock recorded the lowest unemployment rate in the region.
Uchegbu said "while we are proffering measures and recommendations in addressing these disturbing situations in our state, both the executive and legislative arms of government have their different roles to play aimed to put the state in the path of economic growth and fiscal prudence. In accessing loans, the House of Assembly should come up with these actions through lawmaking or oversight powers: Enact legislation, making it compulsory that every loan collected by the government – both domestic and foreign – should be tied to identifiable capital expenditure development programs and projects".
They reflected that the Enactment of Fiscal Responsibility Law in the state as at the federal level, emphasizing on debt management, transparency and accountability in all fiscal related matters, is a milestone that could solve financial issues and debts.
Uchegbu therefore urged government to fairly, effectively, prudently empower people on agriculture, trading, commerce, industry, provide quality education, working infrastructure to encourage productivity, as well as adequately monitor commodities, products, goods in the open market to reduce inflation, food scarcity and hunger.
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