SDP reacts as NBS reveals Nigeria’s foreign debt, debtor states

SDP reacts as NBS reveals Nigeria’s foreign debt, debtor states

Mr Eyo Ekpo, the governorship candidate of the Social Democratic Party (SDP) in Cross River State, says there is nothing wrong in a state owing debt provided that the money is properly invested. Ekpo said this in an interview with the NEWSPAD on Friday in Calabar while reacting to the Nigeria Bureau of Statistics (NBS)

Mr Eyo Ekpo, the governorship candidate of the Social Democratic Party (SDP) in Cross River State, says there is nothing wrong in a state owing debt provided that the money is properly invested.

Ekpo said this in an interview with the NEWSPAD on Friday in Calabar while reacting to the Nigeria Bureau of Statistics (NBS) report on Cross River’s external debt.

He said that proper investment of monies borrowed was key to debt repayment, while creating multiple streams of income for the state.

According to him, a state government can derive income from its investments and taxes, but the Cross River is not managing its debt properly.

“Debt in itself is not the killer, the killer is when you do not manage your debt and when you do not make efforts to repay it.

“I have not heard that the state government is dedicating any part of its revenue however small as it is to repaying debts.

“All l see is that we are taking up more and more liabilities without creating streams which will allow our debts to be repaid,” he said.

He said that Gov. Ben Ayade had not extended olive branches to candidates of other political parties in the state nor called him for any meeting although he had offered his manifesto and execution plan to the state government.

“I heard all the nice words from the press, however, no government runs in the media

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