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JONATHAN AND I, INCURRED N60B DEBT FOR BAYELSA, SYLVA TELLS DICKSON

By NBF News
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http://www.nigerianbestforum.com/blog/?attachment_id=122389 The exchange of words between the former Governor of Bayelsa State, Chief Timipre Sylva and Governor Seriake Dickson yesterday took a new turn with the revelation that when President Goodluck Jonathan was the governor of the state, he also contributed to the huge N60billion debt profile of  the state.

Former Governor Timipre Sylva, in a statement yesterday signed by his Media Adviser, Mr. Doifie Ola, over the claim by the Governor Seriake Dickson administration that a whooping N110 billion  debt in bond and loans were left behind at the termination of his tenure as Governor, said the debt were incurred from the administration of Goodluck Jonathan as Governor of the State.

The statement reads in part, 'the Sylva administration inherited debts from the previous government, and some of these debts were absorbed into the bond. Thus, Sylva could not have been responsible for a N60 billion bank debt as Dickson sought to suggest. It is irresponsible for the Dickson administration to blame Sylva continually for its incompetence. Now that he is governor, even if through an ungodly process, the Bayelsa people expect Dickson to lead in developing the state, not to make excuses.

'The Government of Bayelsa State under Chief Timipre Sylva took a N50 billion bond in 2010 following approvals by the Bayelsa State House of Assembly and the Nigerian Stock Exchange. The idea of the bond was to fast-track infrastructural development in the state. In particular, it was to stabilise power, improve healthcare and education, construct roads and provide water. Funds from the bond were not paid to the government but directly to the contractors.

At the time Sylva left office, specific projects linked to the bond were about 90 per cent complete. Since the bond was on a determined interest rate, it is absurd for the Dickson administration to suggest that Sylva left a N50 billion bond debt as if it has not been serviced since 2010. This is simple arithmetic.

'We are concerned that the government of Henry Seriake Dickson in Bayelsa State is still engaged in pushing out half-truths and lamentable lies. In a seeming retraction of its earlier claim that former Bayelsa State Governor, Chief Timipre Sylva, left only N4, 451 in the state purse, Dickson admitted that he took over government from the former Speaker of the Bayelsa State House of Assembly, Rt. Hon Nestor Binabo. Yet, the Dickson administration insisted that Sylva left a whopping debt of N110 billion, comprising N50 billion bond and N60 billion bank debt.

'The Dickson system suffers from a credibility deficit. But even a government of doubtful legitimacy can be consistent. Dickson and his lieutenants are confused. They have no idea about how to run a government. They think that running Bayelsa State is about cheap propaganda.'