Anambra State Governor, Chukwuma Soludo, has announced that his administration has withdrawn from an existing loan agreement with the World Bank to avoid what he described as a “debt overhang” that could burden future generations.

He made this disclosure while addressing the media team of the late Senator Ifeanyi Ubah during an inspection of the ongoing Government House and Governor’s Lodge project in Awka on Sunday.

Soludo disclosed that his government has not taken out any loans from banks or other financial institutions and has also declined the Federal Government’s loan offer to states in 2024.

Despite these financial constraints, the governor assured that his administration continues to pursue ambitious, people-centered projects that are at various stages of completion.

“I made the decision to withdraw Anambra from the World Bank loan arrangement signed before I assumed office,” Soludo explained. “I reviewed the loan terms and concluded that it was unsustainable. It would have been easy to continue borrowing, passing the debt burden to future generations, but it was a bad deal for Anambra.”

Soludo also noted that while the federal government distributed N438 billion in loans to 35 states last year, Anambra was the only state that chose not to accept the funds.

“I need money, but I will not borrow the state into slavery,” he stressed.

The governor also highlighted his administration’s progress on key infrastructure projects, including the construction of a permanent Government House and Governor’s Lodge, a landmark project in the state’s history.

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He expressed regret that Anambra had been without such facilities 34 years after its creation and emphasized that the new Government House would be built to last for centuries, likening it to the durability of the White House in the United States.

“We are breaking the jinx with the biggest and best project, and some have described it as a mini city,” he said.

In terms of infrastructure, Soludo reported that over 750 kilometers of roads have been constructed, with 410 kilometers already completed.

His administration has focused on areas of the state that have never seen tarred roads.

“We have made strides in education, health, youth empowerment, and social reorientation,” he added. “We’re working to restore the value of hard work in our youths and combat the damaging ‘get-rich-quick’ mentality.”

Soludo reiterated his commitment to transparency, stating, “I promised Anambra people that I would show them how every Kobo they entrusted to me is spent.”

The media team, led by Kamen Ogbonna, expressed admiration for the governor’s progress and commended him for achieving so much without resorting to borrowing. Ogbonna remarked, “The scale of the Government House and Governor’s Lodge explains why previous governors avoided such a project.”

Nollywood stars, including Steve Alajemba (Uwaezuoke) and Collins Monago, who were part of the inspection team, praised Soludo’s achievements and urged the people of Anambra to continue supporting him as the state prepares for the upcoming November 8 gubernatorial election.

Crediblenewsng.com