​It will be wicked of the N Assembly to approve $200m loan to Abia Govt

A governorship aspirant for the 2015 elections in Abia State, Chief Emeka Kalu has asked the  National Assembly not to give Abia Government the $200m loan it is requesting for.
The business mogul said the debt profile of the state is so frightening that any government that will inherit it will suffer, just like its citizens are doing, since the current administration is incapable of repayment.
Kalu also asked Abia State government led by Dr Okezie Ikpeazu to urgently address the needs of workers in the state who are being owed several months salaries instead of throwing stones at Dr Alex Otti, who raised issues about the indiscriminate demand for loans running into millions of dollars by the government.
Kalu stated this in a press release where he wondered why Abia would still be grossly underdeveloped even after borrowing more than states like Ebonyi, received more bailout founds, and took the notorious Paris loan without anything to show for it.
“Ebonyi State is a child born out of Abia years ago. Today, Ebonyi people are enjoying basic amenities and the state is virtually a mega construction site. Abia, even after the last governor, has refused to stand on its feet. Instead of addressing these issues, all Abia government press aides do is attack Dr Alex Otti, who showed some measure of statesmanship by asking questions about our commonwealth.
He equally supported Dr Otti’s position that the National Assembly review the approved $200 million loan for the state. 
“Like Dr Alex Otti said, there is nothing to prove that the current government can be able to repay a loan. The debts of $200m will be a great burden upon the state, and the current government has no clear plan on how they want to invest the money. 
He continued “Abia at the moment is in debt to the FG to the tune of N14.150bn which is bailout fund, there are two tranches of Paris Club loan refund in the sums of N5.3bn and N5.7bn respectively, and $200m loan is being expected. Yet workers are groaning with eight months’ salary arrears and the state is on autopilot.
“Granting the request of the government will mean the National Assembly has no interest of the state at heart”, he stressed.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s