The Enugu State House of Assembly has approved a request to offset the domestic debt of the state from the outstanding 60 per cent unauthorized debits from the excess crude account (ECA) and petroleum profit tax (PPT) accruable to the state.
It also approved the deduction from source of five per cent consultancy fee for the recovery of backlog of stamp duties owed to the state from 2015 to 2022.
The House granted the approvals on Thursday in Enugu after reading letters from the state government during an emergency plenary presided over by the deputy speaker, Mr. Uche Ugwu.
In his submission, the Leader of the House, Mr Ikechukwu Ezeugwu, said the balance from ECA and PPT, after the deduction of five per cent consultancy fee to Ajap Financial Services Ltd would help the state government carry out more developmental projects.
Ezeugwu argued that authorizing the offsetting of the domestic debts would make the state to be debt-free, which, according to him, was commendable.
While contributing, Mr Sam Ngene, representing Enugu South Urban Constituency, applauded the State Executive Council (SEC) for coming up with the initiative of ensuring that the state is not indebted to anybody or institution nationally.
Another member, Mr Johnson Chukwuobasi, representing Awgu South Constituency, regretted that the federal government had refused to pay monies it owed the state.
Obasi, however, praised the state government for their tenacity at ensuring that the monies are channeled at offsetting the domestic and other debts of the state.
In his remark, the deputy speaker commended his colleagues for being thorough in their submissions during the debates on the two requests from the executive arm of the government.
Ugwu said the contributions showed the commitment of the members to improve the financial standing of the state government.
