AWKA – Governor Chukwuma Soludo of Anambra State has reaffirmed his administration’s commitment to fiscal prudence, stating that his government opted out of an existing World Bank loan arrangement to prevent a “debt overhang” that could burden future generations.
Speaking to members of the Late Senator Ifeanyi Ubah Media Team during their inspection of the ongoing Government House and Governor’s Lodge project in Awka, Soludo emphasized his administration’s decision to steer clear of borrowing from financial institutions, including the Federal Government’s 2024 loan offer to states.
“Anambra is the only state that pulled out of an existing World Bank loan arrangement signed before I took office. I examined the terms and found them unsustainable. It would have been easy to continue and pass the burden to the next generation, but I refused to mortgage Anambra’s future,” Soludo stated.
He disclosed that in 2023, N438 billion was distributed to 35 states, with Anambra being the only state that did not accept the funds. “I need money, but I cannot borrow my state into slavery,” he added.
Despite rejecting external loans, the governor highlighted the state’s progress under his leadership, citing ambitious infrastructure and developmental projects. These include the construction of a permanent Government House and Governor’s Lodge, 34 years after the state’s creation. He described the project as a landmark initiative designed to stand the test of time.
“This is a magnificent project comprising about 34 buildings. In the next 200 years, these structures will still be standing strong, just like the White House in America. We are breaking the jinx and building what some describe as a mini city,” he said.
Soludo also outlined achievements in road infrastructure, noting that over 750 kilometers of roads have been undertaken, with 410 kilometers already completed. Additionally, he highlighted advancements in education, healthcare, youth empowerment, and social reorientation.
“We are restoring the values of dignity in labor and countering the ‘get-rich-quick’ mentality that is harming our youths. When I took the oath of office, I promised Anambra people that I would show them exactly where every kobo is spent,” he reaffirmed.
Impressed by the governor’s achievements, Mr. Kamen Ogbonna, leader of the Ubah media team, praised Soludo’s financial discipline and the scale of the ongoing projects.
“The magnitude of the Government House and Governor’s Lodge explains why previous administrations carefully avoided the project. It is remarkable that Soludo has achieved this much in three years without borrowing,” Ogbonna remarked.
With Anambra State forging ahead on a foundation of fiscal responsibility and sustainable development, Soludo’s administration continues to set a precedent for governance in Nigeria.
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