Kate Uchegbu


Following the request by Governor Chukwuma Soludo to the Anambra State House of Assembly seeking its approval of a loan of 100 billion naira for the state, has gathered that the request has been generating a lot of outrage from citizens of the state as well as from members of the opposition party.


According to the letter, which was read by the Speaker of the Anambra House of Assembly, Hon.Uche Okafor, the loan facility will be for the construction and refurbishment of key infrastructure in the State.
But members of the opposition have pooh poohed the idea of a loan and have based their discomfiture on a number of reasons. For example, the lawmaker representing Dunukofia State Constituency in the Anambra House Assembly, Hon. Lawrence Ezeudu told our correspondent that there was need for the Soludo administration to give a breakdown of the loan request to the people so that Ndi Anambra could know what specific set of infrastructure the loan was being sought for.
Ezeudu who is also a candidate for the House of Representatives seat for the Anaocha, Njikoka and Dunukofia Federal Constituency, noted that he had no challenges with the present administration taking a loan in order to reposition the state of infrastructure in Anambra, he however stated that there was need for the administration to give a breakdown of projects it intended to tie up such monies to.
Also speaking on the subject, Chief Chibuxor Obiakor, a chieftain of the All Progressives Congress, APC told AT that the Soludo administration should give a breakdown of the specifics of such a loan which he said would then help determine whether it was worth it. Obiakor stated that it was not enough for the administration to just announce that it was going to take the sum of a N100Bn but to tie such a request to specifics. Such as the number of roads, bridges, schools and hospitals etc such an amount would likely cater for.
Obiakor explained that such a gesture would help in ensuring that a misappropriation of such funds does not occur given that the previous administration had also taken loans for a number of reasons and yet Ndi Anambra were yet to feel the impact of such loans previously taken.
He emphasized that if such occurred then it would be easy for the House of Assembly, communities and citizens to effectively monitor the deployment of such a loan.
A former member of the House of Representatives who opted for anonymity wondered why Soludo was seeking a loan when he had earlier told Ndi Anambra that the state was in a good financial state.
There are a number of other fears concerning this loan such as the alleged lack of clear repayment plan and the state’s rising debt profile, are among these fears.
For example, the state’s debt burden stands at N100.732 billion and can be broken down to its domestic debt standing at N59.013 billion while  its foreign debt stands at $115.886 million. Is it thus wise to add another 100 Bn to the state’s debt burden? 
However many are afraid that with the body language of the state house of assembly, it may not critically examine such a request which would help address such fears as expressed by a majority of citizens.
Tags : 100bn loanAnambra StateAnambra State House of AssemblyProfessor Charles Chukwuma Soludo

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