• Home
  • News
  • Politics
  • Business
  • Entertainment
  • Education
  • Health
  • Opinion
  • Sports
  • About
  • Advertise
  • Privacy Policy
Tuesday, July 15, 2025
  • Login
No Result
View All Result
NEWSLETTER
Elanza News
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Education
  • Health
  • Opinion
  • Sports
  • About
  • Advertise
  • Privacy Policy
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Education
  • Health
  • Opinion
  • Sports
  • About
  • Advertise
  • Privacy Policy
No Result
View All Result
Elanza News
Home News

Why I pulled out of World Bank loan, refused to borrow— Soludo

Nathaniel Irobi by Nathaniel Irobi
March 9, 2025
in News
0
Why I pulled out of World Bank loan, refused to borrow— Soludo
0
SHARES
13
VIEWS
FacebookTwitterWhatsappEmailTelegram

RelatedPosts

Gunmen Ambush, Kill CDC Chairman in Bayelsa

Photos: Women Pray Ahead Of Buhari’s Body Arrival

Group slams NMDPRA Boss Farouk’s Diversionary Newspapers Ads On $5.5 Million In Children’s Tuition Fees

Anambra State Governor, Chukwuma Soludo has said his administration pulled out of an existing loan arrangement with the World Bank to save the state from “debt overhang”.

Soludo said this while addressing members of the Late Sen. Ifeanyi Ubah Media team, who were on inspection of the ongoing Government House and Governors Lodge project in Awka on Sunday.

He said his administration had not only refused to borrow from any bank or institution but also refused to access the Federal Government loan to states in 2024.

He said that notwithstanding the development, his administration had embarked on ambitious and people oriented projects which were at various stages of completion.

According to him, it may interest you to know that Anambra is the only state that pulled out of an existing World Bank loan arrangements which was signed before I came in.

“I looked at the terms of the loan and I said it was not sustainable; it was easy to continue with it because the next generation will pay but based on the terms, it was a bad deal for Anambra.

“Last year N438 billion was distributed to 35 states, Anambra was the only state that did not take it. I need money but I cannot borrow my state into slavery,” he said.

Soludo said he was giving Anambra a permanent Government House and Governor’s Lodge 34 years after it was created, expressing regret that the facilities had exited at a construction company office and outside Awka respectively.

ALSO READ:  Tragedy as 48 killed, 50 cows burnt alive as petrol tanker explodes in Niger State

He said that it was a magnificent project with about 34 buildings which were being built to last, such that in the next 200 years, they would still be standing like the White House in America.

“I said we are going to break the jinx and we are doing that with the biggest and the best that somebody said is going to be like a mini city,” he said.

Soludo said he had done over 750 kilometers of roads with about 410km completed with attention to parts of the state that had not seen tarred roads since their existence.

“We have touched education, health, youth empowerment, social reorientation and bringing back our value of dignity in labour against this new get rich quick mentality that is destroying our youths.

“I told Anambra people when I was sworn in that I will show them where every Kobo they gave me is channeled,” he said.

The Leader of the Ubah media team, Mr Kamen Ogbonna, said they were impressed with what the governor was doing as it aligned with their Philosophy.

Ogbonna said it was interesting to note that Soludo had made such progress in three years without borrowing from any source.

“The magnitude of the Government House and Governors Lodge will tell you why other governors carefully avoided the project,” he said.

Nollywood stars including Steve Alajemba (Uwaezuoke) and Collins Monago who were on the trip lauded Soludo for his works and urged Anambra people to support him to continue the good job as they prepared for Nov. 8 guber. (NAN)

ALSO READ:  Shehu Sani Hails Gov Sani’s Two-Year Scorecard, Applauds Restoration Of Peace
Nathaniel Irobi

Nathaniel Irobi

Related Posts

Gunmen Ambush, Kill CDC Chairman in Bayelsa

Gunmen Ambush, Kill CDC Chairman in Bayelsa

by Nathaniel Irobi
July 15, 2025
0

Gunmen allegedly involved in oil bunkering, on Sunday night, reportedly ambushed and killed the Community Development Committee (CDC) chairman of...

Photos: Women Pray Ahead Of Buhari’s Body Arrival

Photos: Women Pray Ahead Of Buhari’s Body Arrival

by Ojimaojo Abubakar
July 15, 2025
0

A mood of deep mourning and reverence descended on Daura, the hometown of late former President Muhammadu Buhari, as groups...

Group slams NMDPRA Boss Farouq’s Diversionary Newspapers Ads On $5.5 Million In Children’s Tuition Fees

Group slams NMDPRA Boss Farouk’s Diversionary Newspapers Ads On $5.5 Million In Children’s Tuition Fees

by Nathaniel Irobi
July 15, 2025
0

The Concerned Citizens Network of Nigeria (CCNN) has slammed Engineer Farouk Ahmed, Chief Executive of the Nigerian Midstream and Downstream...

Recommended

Crime: Virtual Assets, Investment Scam To Overtake Money Laundering Soon Says EFCC Boss

Crime: Virtual Assets, Investment Scam To Overtake Money Laundering Soon Says EFCC Boss

4 days ago
FG advocates harmonisation of NIN, TIN for access to information

FG Issues 3.5 million Passports, Saves ₦1bn Annually Through Reforms

6 days ago

Popular News

  • CDS’s Wife, Shehu Sani, Katung, Other’s To Storm Pastor Mutum’s Ordination, Book Launch

    CDS’s Wife, Shehu Sani, Katung, Other’s To Storm Pastor Mutum’s Ordination, Book Launch

    0 shares
    Share 0 Tweet 0
  • Bwari Council Chairmanship Aspirant, Dara, Dumps Labour Party Over Suspected Foul Play In Primaries

    0 shares
    Share 0 Tweet 0
  • Innoson, Ibeto, Apostle Alozie To Honour Archbishop Emma David At Golden Jubilee Celebration

    0 shares
    Share 0 Tweet 0
  • Kaduna Baptist Church Donates N50,000 Each To 12 Muslims, 4 Retired Pastors

    0 shares
    Share 0 Tweet 0
  • Bannon Tried to Use Iran Strike to Split the GOP Says Former Counselor to Jared Kushner, Eliyahu Okkon, Esq.

    0 shares
    Share 0 Tweet 0

Connect with us

Facebook Instagram Twitter Youtube
Elanza logo

Elanza News is your NO 1 online platform for all news update.
#SayNoToFakeNews
Contact Us

Category

  • Arts & Literature (25)
  • Business (742)
  • Education (217)
  • Entertainment (310)
  • Health (194)
  • National (2,191)
  • News (8,188)
  • Opinion (300)
  • Politics (1,626)
  • Science (15)
  • Security (405)
  • Sports (439)

Newsletter

© 2023 Elanza News - The No 1 online news platform

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Politics
  • Business
  • Science
  • National
  • Entertainment
  • Sports
  • Health

© 2023 Elanza News - The No 1 online news platform