Anambra: 100 Billion Loan Request: The True Position

When I talked about Governor Soludo providing visible and viable “all-round” development in Anambra State just in two (2) years of assuming leadership without borrowing shi-shi I got various reactions many of which come from either sincere ignorance or outright disbelief.

Now, it is true that in 2022, Governor Soludo made a formal request to the State House of assembly for approval to access a 100 billion Naira loan. This is the Law. The fiscal responsibility Act mandates the Executive, whether Federal or State, to obtain a written approval from the legislature on such matters, where this is breached it is a serious impeachable offence with even stiffer consequences under the laws establishing the Economic and Financial Crimes Commission (EFCC).

Thus, it is true that Gov. Soludo obtained this approval. What is also true which is now where most people seek clarity, is that Gov. Soludo as at today has NOT taken any further action on the said approval to get a 100 billion loan from any known or unknown lender (s) or financial institution — local or foreign. This is an indubitable fact, verifiable by anyone who wishes to establish the veracity of this claim.

More importantly, the Governor has espoused one fundamental reason for his ‘inaction’. He argues that if and when he takes up such a loan it must be for projects that have the capacity to repay it without placing extra burden on the State’s scarce resources. Then, we must add that the various visible developments in the State come from an epic cut in the cost of governance, and high level prudence in the management of public resources. This is coming at a time the country’s fortune is hit by a spiraling double-digit inflation and a spike in the foreign exchange market.

It has become common saying amongst Soludo’s cabinet that in doing this work committed to them by ndi Anambra, first there are no excuses, second it is a vision with a deadline, and lastly even if it means squeezing water out of stones, they must do it.

#24MonthsOfSoludo

— Mazi Ejimofor Opara