Dr. Raymond Asemakaha Managing Director BIPC, says Benue spent ₦21.4 billion on debt servicing in Q1 2025 , but he forgets to tell us how much the state actually earned.
Where are the FAAC figures, the Internally Generated Revenue (IGR), and the wage bill?
Without those, it is Voodoo economics, similar to producing Zeva beer before building its factory.
You can’t talk about a ₦21.4 billion debt payment without telling us the size of the purse it came from.
And you can’t shout “413% debt service ratio” without showing your math , that’s not economics, that’s hypnosis.
Benue’s problem isn’t just debt; it’s the imbalance between what we earn, what we owe, and what we pay in salaries.
If ₦7.4 billion goes monthly to debt, and several more billions to wages. How much is the State wage bill? how much is left for schools, roads, and hospitals?
Dr. Asemakaha’s piece reads more like a campaign brochure than fiscal analysis. Real economists present data, propagandists present praise.
Asemakaha, we need facts. Publish the FAAC receipts, Internally Generated Revenue IGR numbers, wage bill, and debt schedule , then we’ll know whether Governor Alia is truly fixing Benue’s economy or just tilting at windmills.
Benue needs transparency not voodoo economics dressed in official grammar!
Dan-Morgan Ihomun, writes from Wurukum, Benue State.
