Governor Godswill Akpabio has described as false, speculations in the mass media that Akwa Ibom State Government is owing N400 billion.

He made the denial yesterday at the Akwa Ibom PDP State Executive Committee meeting in Uyo, saying: “My part as the governor is to let you know that your government is working and to also allay your fears that some of the publications you see that Government is owing N400 billion are lies.”

Chief Akpabio explained that the State House of Assembly had approved a loan of N80 billion and the State Government has paid a greater part of the loan. According to him, “The House of Assembly approved a total of N80 billion for the government and, of course, when we took the loan at that time, we have started servicing it. We have been paying about N5 billion every month. As I speak with you now I am not sure that this state owes a little above N50 billion.

“So when people write that we owe N400 billion, it is not true. In spite of what we are doing, prudence remains the keyword. We don’t want to mortgage the future of this state. We work in line with the law. I cannot go beyond what the State House of Assembly endorsed. We operate within the ambit of the law.”

Akpabio, who called on Akwa Ibom people to disregard such speculation, prayed God to lead the state well, saying: “Disregard their lies and explain to members of the public that it is part of 2015. Some people take falsehood and propaganda as strategy for 2015; for others like us, we have decided to follow the constitution of PDP for 2015 and outside this we go on our knees and pray God should lead this state well.”