Cross River Government denies N41 Billion External Debt

Government of Cross River State in pursuance of the allegations laid against her has declined direct comments on the data from the country’s Debt Management Office, DMO that her external debt currently stands at about 41 billion Naira.

Mr. Asuquo Ekpenyong, the state Commissioner for Finance and his counterpart in the Information and Orientation ministry whom did not take a call from a news reporter initially, later called back the reporter and upon hearing the inquiry, quickly asked “What is your source?” and when this reporter told him that it was from the Debt Management Office following some findings, he then replied; “I will like to see a copy of it by next week before I comment” and then terminated the call.”

Also, Rosemary Archibong , the state Commissioner for Information and Orientation, who though said she had read reports on the external debt profile of the state told this reporter on phone that she cannot comment directly on the matter until she meets with the Finance Commissioner.

Meanwhile, data from the DMO shows that Cross River State ranks third in the most externally indebted states, falling behind Lagos and Kaduna states.

With the implementation of the 2016 budget to be reviewed in the coming days. external debt have a vital role to play in the planning and implementation of annual budgets, and though it is still unclear the impact of the external debt burden too.

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