66bn, which the government of Akwa Ibom State paid to commercial banks between 2015 and 2022, is only N600 million short of the highest annual revenue a neighbouring State, Abia State had in the last eight years under review. This was contained in a statement on Friday signed by the Programme Officer, Fiscal and Governance Reforms, Faith Paulinus, after the organization's 8th annual Open Budget Forum for Akwa Ibom State held on Tuesday in Uyo.
The organization insisted that for Akwa Ibom State to pay a higher commercial bank loan interest than Delta and Rivers State whose debt burdens are higher than Akwa Ibom State gives more reason the government must come open on its deals per loan obtained. The statement added, 'What is more worrisome in the interest paid on the loans obtained within this period is the source which these loans came from.