States Paying Outgoing Governors Jumbo Pensions Owe N3tn Debt
TUC warns govs to pay workers’ arrears, experts flay jumbo packages
Despite the mounting debts and outstanding workers’ salaries, 18 outgoing state governors in Nigeria will retire into lives of luxury with generous pension benefits. Investigations by The Punch revealed that these governors, set to leave office on May 29, 2023, will be leaving behind at least N3.06tn debt for the incoming administrations, according to data from the Debt Management Office. This debt figure included N2.27tn domestic loans and $1.71bn foreign borrowing, with foreign debt amounting to about N787.51bn. The outgoing governors will be entitled to generous monetary pensions, mansions, luxury vehicles, and domestic and security aides, among others, based on laws passed by their respective state houses of assembly. Despite debt crises in their states, outgoing governors like Nyesom Wike of Rivers State, Ifeanyi Okowa of Delta State, Abdullahi Ganduje of Kano State, and many others will benefit from these monetary provisions. The noted that the 18 states account for 42.51 percent of the N5.34tn total domestic debt and 38.34 percent of the $4.46bn total foreign debt.
The outgoing governors will complete two terms of eight years in office, except for Zamfara’s Bello Matawalle, who lost his re-election attempt. Ifeanyi Ugwuanyi of Enugu State, Samuel Ortom of Benue State, Darius Ishaku of Taraba State, Abubakar Bello of Niger State, Abubakar Bagudu of Kebbi State, Nasir El-Rufai of Kaduna State, Simon Lalong of Plateau State, Aminu Masari of Katsina State, and Aminu Tambuwal of Sokoto State are also among the outgoing governors.
The revealed that the governors would leave debts including N304.25bn and $58.77m for Okowa of Delta State, N219.27bn and $44.85m for Emmanuel of Akwa Ibom State, N122.36bn and $100.67m for Ganduje of Kano State, N43.95bn and $26.
