“Anambra Is the Only State That Rejected Bad World Bank Loan” – Soludo

Anambra State Governor, Prof. Charles Soludo, has revealed that Anambra is the only Nigerian state that turned down a World Bank loan deal which saw 35 other states share $438 million. Speaking over the weekend during a tour of the new Government House under construction in Awka North, Soludo said the decision was made in the best interest of the people.

Addressing members of the late Ifeanyi Ubah political groups and Nollywood actors who joined the visit, Soludo explained that after reviewing the loan terms upon assuming office, he found them to be unfavorable.

“When I came in as governor and looked at the terms and conditions of those loans, I said it was not favorable to our people. This is a bad deal for my people,” he said. “Late last year, they shared 438 million dollars among 35 states in Nigeria, but Anambra State was the only state that did not collect. We don’t need to continue to mortgage the state with such loans.”

The governor emphasized that while the state needs funding for development, it will not come at the cost of mortgaging Anambra’s future. He said some might have accepted the loans and left the debt for the next generation, but his conscience wouldn’t allow it.

Soludo also spoke on the infrastructural state of the government, pointing out that Anambra has lacked a proper government house and governor’s lodge for 34 years. The current makeshift government house, he revealed, is owned by the company that built the Enugu-Onitsha expressway.

He announced that his administration is building a permanent government house consisting of 34 buildings on 23 hectares of land, designed to last 250 years. He added that the project, along with others across the state, is being executed without borrowing, and assured that all funds received on behalf of the people are being judiciously used.