A pro‑Peoples Democratic Party group, PDP Advocates for Peace and Justice, has urged the Akwa Ibom State government to provide a comprehensive breakdown of the state’s financial standing. The call follows finance commissioner Emem Bob’s announcement that the current administration has paid off a N39.831 billion commercial bank loan inherited from the previous administration. The loan, reportedly taken out during former Governor Udom Emmanuel’s tenure, was settled by the present administration to reduce the state’s debt burden. However, the commissioner did not disclose the names of the commercial banks involved or provide detailed information about the loan agreements.
In response, Tom FredFish, chairman of PDP Advocates for Peace and Justice, emphasized the importance of transparency in public finance. He urged the state government to publish audited statements, loan agreements, and other relevant financial records so the public can fully understand the state’s fiscal position. FredFish outlined several key demands: a comprehensive breakdown of all loans inherited by the current administration, the names of the financial institutions involved, and the interest rates, tenure, and repayment schedules. He also requested a clear statement of the total cash balance and financial instruments inherited, including the actual cash in the state’s accounts as of May 29 2023, information on funds in reserve accounts, outstanding inflows from the Federation Account, and the status and value of all promissory notes inherited from the previous administration.
According to FredFish, full disclosure will not only strengthen the credibility of the present administration but also ensure that the public is accurately informed about the true state of Akwa Ibom’s finances. Transparency in public finance is a significant issue in Nigeria, where concerns about corruption and mismanagement of public funds are widespread. By providing detailed information about the state’s financial standing, the Akwa Ibom government can build trust with its citizens and demonstrate its commitment to accountability and good governance. As the state government considers the group’s requests, it remains to be seen whether it will provide the level of transparency and disclosure being called for.
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