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Dr Uba writes on economic details of Ebonyi, other South-East states

In this article, Chiwuike Uba (Ph.D., CPA, FCMA), Board Chairman of Amaka Chiwuike Uba Foundation (ACUF), gives an analysis of the poverty rate of South East states. Details below:


PROFILE: POVERTY, PUBLIC DEBTS, AND EASE OF DOING BUSINESS IN SOUTHEAST

ABIA STATE
The Abia State Government under the leadership of Governor Okezie Ikpeazu increased Abia State domestic debt stock by 105.07% since he assumed office in 2015 from NGN33.53bnin 2015 to NGN68.76bn in 2019. In addition, Abia State’s external debt stock increased by 132.74% from USD$41.50m in 2015 to USD$96.59m in 2019. Despite these debts, poverty is increasing in the State. Abia State moved from being the 3rd least poor State in Year 2003/2004 to the 9th least poor state in the Year 2010 and moved to 16th least poor State in the Year 2020. The unemployment rate is 31.6% and underemployment is 16.4%. According to the last World Bank Ease of Doing Business Report, Abia State ranked 34 in registering property, 32 in enforcing contracts, 13 in dealing with construction permits, and 16 in starting a business. 

ANAMBRA STATE
The Anambra State Government under the leadership of Governor Willie Obiano increased AnambraState domestic debt stock by 1,079.25% since he assumed office in 2014 from NGN2.87bnin 2014 to NGN33.19bn in 2019. In addition, Anambra State’s external debt stock increased by 139.36% from USD$45.16m in 2014 to USD$108.08m in 2019. Despite these debts, poverty is increasing in the State. Anambra State moved from being the 4th least poor State in year 2003/2004 to the 11th least poor state in 2010 and 8th in 2020. The unemployment rate is 17.5% and underemployment is 17.6%. According to the last World Bank Ease of Doing Business Report, Anambra State ranked 32 in registering property,34 in enforcing contracts, 21 in dealing with construction permits, and 19 in starting a business.  

EBONYI STATE
The Ebonyi State Government under the leadership of Governor Dave Umahi increased Ebonyi State domestic debt stock by 36.78% since he assumed office in 2015 from NGN34.16bnin 2015 to NGN46.73bn in 2019. In addition, Ebonyi State’s external debt stock increased by 38.22% from USD$47.16m in 2015 to USD$65.19m in 2019. Despite these debts, poverty is increasing in the State. Ebonyi State moved from being the 19th least poor State in year 2003/2004 to the 34th least poor state in 2010 and moved to 33rd least poor State in 2020. The unemployment rate is 21.1% and underemployment is 19.7%. According to the last World Bank Ease of Doing Business Report, Ebonyi  State ranked 24 in registering property, 36 in enforcing contracts, 31 in dealing with construction permits, and 32 in starting a business.  

ENUGU STATE
The Enugu State Government under the leadership of Governor Ifeanyi Ugwuanyi increased Enugu State’s domestic debt stock by 62.52% since he assumed office in 2015 from NGN37.55bn in 2015 to NGN61.02bn in 2019. In addition, Enugu State’s external debt stock increased by 72.65% from USD$71.82m in 2015 to USD$124m in 2019. Despite these debts, poverty is increasing in the State. Enugu State moved from being the 8thleast poor State in year 2003/2004 to the 17th least poor state in 2010 and26th in 2020. The unemployment rate is 18.7% and underemployment is 17.7%. According to the last World Bank Ease of Doing Business Report, Enugu  State ranked 9 in registering property, 31 in enforcing contracts, 28 in dealing with construction permits, and 3 in starting a business.  

IMO STATE
The Imo state government under the leadership of Governor Rochas Okorocha increased Imo State’s domestic debt stock by 484.59% from NGN25.41bn in 2011 when he assumed office as Governor to NGN148.59 in May 2019 when he left office. Governor Emeka Iheadioha increased the domestic debt to NGN164.43bn from June 2019 to December2019.  In addition, Imo State’s external debt stock increased by 38.27% from USD$49.76m in 2011 to USD$68.81m in 2019 when Roachas Okoroacha left office as Governor. Despite these debts, poverty is increasing in the State. Imo State moved from being the 6thleast poor State in year 2003/2004 to the 2nd least poor state in 2010 and 15thin 2020. The unemployment rate is 28.2% and underemployment is 15.1%. According to the last World Bank Ease of Doing Business Report, Imo  State ranked 33 in registering property, 37 in enforcing contracts, 23 in dealing with construction permits, and 34 in starting a business.   

(Source of Data: NBS, DMO and World Bank.)

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