Anambra State governor, Professor Chukwuma Soludo has disclosed that his administration pulled out of an existing loan arrangement with the World Bank to save the state from debt overhang.
Governor Soludo made the disclosure yesterday while addressing members of late Senator Ifeanyi Ubah’s media team who were on inspection of the ongoing Government House and Governors Lodge project in Awka.
Soludo said his administration had not only refused to borrow from any bank or institution, but also refused to access the federal government’s loan to states in 2024.
He said notwithstanding the development, his administration had embarked on ambitious and people oriented projects that were at various stages of completion.
According to him, it may interest you to know that Anambra is the only state that pulled out of an existing World Bank loan arrangement which was signed before I came in.
“I looked at the terms of the loan and I said it was not sustainable; it was easy to continue with it because the next generation will pay, but based on the terms, it was a bad deal for Anambra.
“Last year, N438 billion was distributed to 35 states, Anambra was the only state that did not take it. I need money but I cannot borrow my state into slavery,” the governor said.
Soludo added that he is giving Anambra a permanent Government House and Governor’s Lodge 34 years after it was created.
He said it is a magnificent project with about 34 buildings that are being built to last, such that in the next 200 years, they would still be standing like the White House in America.
“I said we are going to break the jinx and we are doing that with the biggest and the best that somebody said is going to be like a mini city,” he said.
The governor said he had done over 750 kilometers of roads with about 410km completed with attention to parts of the state that had not seen tarred roads since their existence.
“We have touched education, health, youth empowerment, social reorientation and we are bringing back our value of dignity in labour against this new get rich quick mentality that is destroying our youths.
“I told Anambra people when I was sworn in that I will show them where every kobo they gave me is channeled into,” he added.
In his address, the leader of Ubah media team, Mr Kamen Ogbonna said they are impressed with what the governor is doing, as it aligns with their philosophy.
Ogbonna said it is interesting to note that Soludo had made such progress in three years without borrowing from any source.
Among those in the team were Nollywood stars, Steve Alajemba (Uwaezuoke) and Collins Monago, who lauded Governor Soludo for his works, and urged Anambra people to support him to continue the good job, as they prepare for the November 8 governorship election.
