Anambra Govt Rejected World Bank Loan To Avoid Falling Into Debt – Soludo
The Governor of Anambra State, Prof. Chukwuma Soludo, has explained why the state withdrew from the World Bank loan arrangement, stating that it was “not a good deal” for its people.
Soludo made this revelation on Sunday when the leadership of the late Senator Ifeanyi Ubah’s political groups, along with some Nollywood practitioners, toured the ongoing construction of the Government House project in Awka North Local Government Area.
Addressing the groups, the governor noted that Anambra is the only state in Nigeria to have opted out of the World Bank loan arrangement, adding that the decision was taken to avoid falling into debt.
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 $438m 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.”
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.
Anambra Govt Rejected World Bank Loan To Avoid Falling Into Debt – Soludo is first published on The Whistler Newspaper
