We Are Struggling To Pay Salaries Because Of FG’s Debt Profile

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Delta State Governor, Dr. Ifeanyi Okowa, has revealed that the state is struggling to pay salaries due to a reduction in funds received from the Federal Allocation Accounts Committee ( FAAC).

Okowa, who revealed this to reporters in Asaba, expressed dissatisfaction with the reduction in funds received from the Federal Allocation Accounts Committee (FAAC) in December 2021.

He stated that the Federal Government’s debt profile has hampered the State Government’s ability to obtain necessary loans.

While lamenting Nigeria’s economic downturn, Okowa urged the Federal Government to devise an economic strategy to address the country’s dwindling fortunes.

According to him, ” In this month, we are struggling to pay salaries. What we have is not even enough to pay salaries, I do not know about tomorrow but the revenue receipts we have been getting from FAAC is far from what we expect.”

He also stated that no explanation has been provided by the respective quarters as to why the state’s allocation was reduced in comparison to the previous year.

While hoping for a long-term solution to oil importation through the completion of Dangote Refineries, he lamented the impact on the country’s finances.

“Considering the fact that the oil prices are fairly up but that has also come with its own challenge. The oil prices are up but, unfortunately, we are importing oil and petrol, so the gains from the oil prices are completely wiped out from the petroleum importation and that has continued to be a problem for us as a Nation,” he asserted.

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