‘I inherited huge debts’ – Ex-Gov Imoke blames Donald Duke over Cross River financial crisis

Former Cross River State Governor, Liyel Imoke, has said he inherited debts and contingent liabilities from his predecessor, Donald Duke, during his tenure as governor of the state.

Imoke made the disclosure on Wednesday during an interview on Arise Television’s Prime Time, while discussing the Tinapa Business and Leisure Resort in Calabar, the state capital.

Tinapa, an integrated tourism and free trade zone project, was initiated under Duke’s administration and commissioned before Imoke assumed office.

According to Imoke, the project imposed a significant financial burden on the state, with its cost amounting to about $170 for every man, woman and child in Cross River State.

He said the state government had embarked on a commercial venture with public funds but lacked control over some of the critical dependencies required to make the project commercially successful.

“I inherited debts and contingent liabilities from Donald Duke. There was no power supply to Tinapa on the day of commissioning. I had to bring in power,” Imoke said.

The former governor said his administration also had to contend with debt servicing obligations associated with the project.

He said about N1 billion was being spent monthly on debt servicing, adding that Duke had not made debt payments before leaving office.

Imoke further argued that the commercial framework required to attract businesses and investors to Tinapa was not sufficiently developed before the project was commissioned.

“As a state government, we had no control over the dependencies for Tinapa to succeed,” he said.

According to him, efforts should have been made during the construction phase to secure anchor tenants who could have provided the commercial foundation needed for the resort.

“While the construction was ongoing, I thought it was a time when anchor tenants could have been procured. Empty buildings were commissioned,” he said.

Imoke also said the broader economic environment necessary for Tinapa to succeed was not adequately established under the previous administration.

“The commercial and economic environment for Tinapa to succeed was not put in place by Donald Duke,” he said.

His comments come amid renewed discussions over the management, cost and economic performance of major government projects initiated by previous administrations in Nigeria.

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