A governorship aspirant under the All Progressives Grand Alliance (APGA), Mr. Theodore Okey Ezeh, has said that Imo State is bleeding uncontrollably under Governor Rochas Okorocha.

Speaking with journalists in Owerri, the governorship aspirant assured to stop the bleeding going on in the state.

He said: “When we stop the bleeding taking place through over-bloated overheads and unverified personnel costs, we go after enhanced revenues.

“I can tell you without any equivocation that proper accounting of Imo’s true IGR figures will yield nothing less than N1.2bn monthly.”

He also noted that “Imo State has a budget deficit which runs into almost N2b monthly as a result of waste, corruption and poor managerial acumen of the present administration in the state,” stressing that “funds borrowed by successive administrations in Imo State have not been expended on regenerative projects with capacity of revving up the local economy.”

According to him, “Imo generates an average of N3.2bn monthly made up of Statutory Allocation of N1.82bn, 13% Derivation of N172.35m, VAT share of N727.22m and a disgraceful IGR figure of N456.05m.

“Compare this with our expenditure profile of N4.85bn monthly made up of personnel costs of N2.04bn and overheads of N2.81bn. This throws up a monthly deficit of N1.68bn! If this trend continues unchecked, we would have only succeeded in squandering all we have and mortgaging future generations with unpayable debt stocks.”

Ezeh further assured: “Over-bloated overheads can be curtailed in 30 days. Flying private jets, 1st class tickets, luxury guesthouses, lengthy convoys, too many idle appointees and inflated projects can be shoved aside in days and our books balanced in 90 days.”

He reminded the people of the state that they still have the opportunity to correct the anomalies in the state, stressing that many things need to be done differently in the state, even as he said that if given the opportunity Imo must be placed on the path of sustainable growth.