- Soludo noted that Anambra is the only state in Nigeria to have withdrawn from the World Bank loan arrangement, adding that the decision was taken to avoid plunging the State into massive debt.
Anambra State Governor, Prof. Chukwuma Soludo, has revealed why the state government backed out of its World Bank loan commitment.
Speaking on Sunday when the leadership of the late Senator Ifeanyi Ubah’s political groups visited him, Soludo disclosed that he decided to pull the plug on the deal because it was not good for the people of the State.
The governor addressed the groups, along with some Nollywood practitioners, during the tour of the ongoing construction of the Government House project in Awka North Local Government Area.
Soludo noted that Anambra is the only state in Nigeria to have withdrawn from the World Bank loan arrangement, adding that the decision was taken to avoid plunging the State into massive debt.
He disclosed that the terms of the loan were not favourable to the State and its people and that he did not want to mortgage the future of the next generation who would become trapped in debt, hence his decision to pull out of the deal.
He said, “The terms and conditions of the World Bank loans were not favourable for the people of Anambra, so we decided to pull out.
“When I assumed office as governor and reviewed the terms and conditions of those loans, I realised they were not in the best interest of our people. This is a bad deal for my people.
“However, one could say, ‘Let me collect the loans; after all, it is the next generation that will pay.’ I don’t have that kind of conscience. I felt the terms were a bad deal for Ndi Anambra, and I told them we didn’t need it.
“Late last year, they shared 438 million dollars among 35 states in Nigeria, but Anambra was the only state that did not collect. We don’t need to continue mortgaging the state with such loans.”
Soludo stressed that while he requires funds to execute government projects, he refuses to take loans that would burden the state’s future generations.
He also pointed out that Anambra is the only state in Nigeria where the governor’s lodge is located outside the capital, and the Government House has been housed in a makeshift building provided by a construction company for 34 years.
According to him, the current Government House is owned by the company that constructed the Enugu-Onitsha Expressway.
Soludo further stated that for 34 years, Anambra had no Government House or governor’s lodge.
“However, today, the state is building one of the best Government Houses, with 34 buildings sitting on 23 hectares of land, designed to last 250 years without requiring major renovations.
“The state has not borrowed any money to fund the construction of the ongoing Government House and other projects. I vowed that every naira entrusted to me on behalf of the state must be judiciously utilised for the benefit of the people of Anambra,” he added
POPULAR TODAY
Discussion about this post