Anambra State Governor, Prof. Chukwuma Soludo, revealed that the state decided to withdraw from the World Bank loan agreement because it was “not a good deal” for the people.
Soludo shared this information on Sunday during a tour of the ongoing Government House project in Awka North Local Government Area, which was attended by the leadership of the late Senator Ifeanyi Ubah’s political groups and some Nollywood figures.
In his address to the groups, the governor highlighted that Anambra is the only state in Nigeria to have opted out of the World Bank loan arrangement, emphasizing that the decision was made to prevent the state from falling into debt.
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He said, “The terms and conditions of the World Bank loans were not favourable for the people of Anambra, so we decided to pull out.
“When I assumed office as governor and reviewed the terms and conditions of those loans, I realised they were not in the best interest of our people. This is a bad deal for my people.
“However, one could say, ‘Let me collect the loans; after all, it is the next generation that will pay.’ I don’t have that kind of conscience. I felt the terms were a bad deal for Ndi Anambra, and I told them we didn’t need it.
“Late last year, they shared 438 million dollars among 35 states in Nigeria, but Anambra was the only state that did not collect. We don’t need to continue mortgaging the state with such loans.”
Soludo emphasized that although he needs funds to carry out government projects, he is determined not to take loans that would burden future generations of the state.
He also highlighted that Anambra is the only state in Nigeria where the governor’s lodge is situated outside the capital. For the past 34 years, the Government House has been located in a temporary building provided by a construction company.
He noted that the current Government House belongs to the company that built the Enugu-Onitsha Expressway and pointed out that for 34 years, Anambra has lacked a proper Government House or governor’s lodge.
“However, today, the state is building one of the best Government Houses, with 34 buildings sitting on 23 hectares of land, designed to last 250 years without requiring major renovations.
“The state has not borrowed any money to fund the construction of the ongoing Government House and other projects. I vowed that every naira entrusted to me on behalf of the state must be judiciously utilised for the benefit of the people of Anambra,” he added.
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