My article posted on Sahara Reporters last week titled “Governor Ohakim’s Phantom Budget” in, which I dissected Governor Ohakim’s budget for 2008 fiscal year and concluded, rightly, that the projected budget of N90 billion naira, a whopping 100 % increase over his predecessors 2007 budget is totally unrealistic at best and misleading at worst, drew the irk of Steve Osuji, Ohakim’s Chief spokesman via a response on Sahara Reporters titled “Re: Gov. Ohakim’s Phantom budget”.

In the said article, Steve rather than explain how a poverty pulverised state like Imo that generates over 95% of its revenue from Abuja handout can double its revenue base overnight without Abuja doubling its stipend to his state to counteract my sound argument made a dogs dinner of his case.

As is usual by paid hacks, Steve opened his case by attacking me and casting aspersions on my integrity only to end up losing the point. His opening salvo was:

“Chidi Anyaeche’s article of the above title posted on the web ( Sahara Reporters) really does not require any reasoned response.  It is merely a low quality diatribe churned out by an obviously disgruntled politician.  Anyaeche claimed to have written from London but that piece could have been written from some Lagbole slum.”

Steve went on further to write:

“Yes, Chidi has a good point raising question as to the source of funding for a 100 percentage increase in Imo budget in just one year.”

What a contradiction from Steve, from “…a low quality diatribe..” to “…Chidi has a good point raising question as to the source of funding for a 100 percentage increase in Imo budget in just one year.”

Yes, Steve I have a good point, an articulate point and a well founded point based on verifiable data. Verifiable in the sense that Imo state cannot and will not be able to double its budget for the 2008 fiscal year, for in 2007 fiscal year Abuja that doles out 95% of Imo’s stipend had a budget based on crude oil price of $40 USD per barrel per 2.5 million barrels per day and Imo budgeted N43 billion naira, whilst for year 2008, Abuja’s budget is based on crude oil price of $53.40 USD per barrel per 2.45 million barrels per day less Niger Delta factor and Imo is budgeting N90 billion naira. Abuja realises circa 90% of its own budget from crude oil sales.

From the above paragraph, it is then perfectly logical to conclude that for Ohakim to be able to double his budget in 2008 fiscal year, the following scenario has to be met by Abuja . Either Abuja ’s budget is based on crude oil price of $80 USD per barrel for 2.5 million barrels per day or $40 USD per barrel for 5 million barrels per day. This is not the case and this is my point in categorically stating that Ohakim’s 2008 budget of N90 billion naira is simply idiotic, period. May I reiterate once more that Imo derives circa 95% of its revenue from Abuja .

Steve went on further to position that Ohakim will hugely increase his internally generated revenue (IGR) base from N400m per annum to N2 billion per month as part of the measures that will enable him reach the N90 billion naira budgetary target. Any sound mind knows that this is totally unachievable and hence I will not even give this his assertion, space.

Steve finally concluded by writing:

“This Londoner is one of those few Imo people who have not noticed the Ohakim revolution. ….  You are in for a big time Chidi and by the time your governor is through, people like you will never want to live in London anymore (assuming you are not a phantom)”.

Steve, may I use this medium to inform you that I am not from Imo state neither am I a phantom, I am Odenigbo Chidi Anyaeche from Ukpor in Anambra state, residing in London , UK . A search of my name in any internet search engine should be able to give you more details about myself.

Governor Ohakim in his broadcast of June 04, 2007 to the people of Imo state titled “The New Face of Imo State” stated in his final paragraph:

“I further add that my resolve to seek to govern this state is predicated on the conviction that I can be an instrument in the hands of God to show care and love to the people of Imo   State through leadership. A leadership that would be open, transparent, responsible ….”

Responsible indeed, going by his irresponsible budget for the fiscal year 2008.

Odenigbo Chidi Anyaeche

London

UK

Robot  Villager

# 1 ...Read the full article. Posted by Robot| 25.04.2008 16:43