The political rivalry between Benue State Governor Hyacinth Alia and his predecessor, Samuel Ortom, has intensified, following their disagreement over the state’s growing debt burden and conflicting financial figures released by government officials.
The disagreement began after the Managing Director of the Benue Investments and Property Company (BIPC), Raymond Asemakaha, disclosed that the Alia administration spends about N7.4 billion monthly on debt servicing, amounting to N21.4 billion in the first quarter of 2025.
Asemakaha, who made the statement in Makurdi, compared the state’s financial situation to “flying an aircraft through turbulent headwinds.”
He revealed that Benue’s domestic debt currently stands at N122.5 billion, while its external debt is $26.4 million, adding that most of the state’s revenue still goes into loan repayments despite higher federal allocations.
The director, however, defended the Alia administration’s fiscal strategy, explaining that the governor is exploring alternative income sources to raise internally generated revenue and that ongoing infrastructure projects are aimed at attracting private investors and creating jobs.
Reacting to the disclosure, Terver Akase, media aide to former governor Ortom, dismissed the figures as “misleading and inconsistent,” accusing the Alia government of misrepresenting the state’s financial position.
Akase questioned how the government could claim to spend N7.4 billion monthly on debt servicing without revealing the state’s monthly federal allocations. He also pointed out discrepancies in the figures, saying that if N7.4 billion is spent every month, the total for a quarter should be N22.2 billion, not N21.4 billion as stated.
Describing the reported 413 percent debt service ratio as “unrealistic and unverifiable,” Akase challenged the government to publish a comprehensive debt profile detailing interest rates, repayment schedules, creditors, and maturities.
He further demanded clarification on pending financial refunds and recoveries, including subsidy withdrawals, stamp duty arrears, and SURE-P funds, which he said were expected when Alia took office in 2023.
The renewed disagreement underscores the widening rift between both political camps, with Alia’s team blaming previous administrations for Benue’s financial crisis, while Ortom’s allies accuse the current government of poor transparency and political scapegoating.
