Anambra State Governor, Prof. Charles Soludo, has given reasons his administration decided to borrow N100 billion.
He said the loan would be used for critical infrastructural development particularly in building roads, bridges and others.
Soludo disclosed this while assenting to the 2022 Revised appropriation budget of N170 billion on Friday.
He signed the budget tagged, “Building Off From The Blocks” at the Government House, Awka.
According to him, Anambra people cannot wait, noting that not the whole amount will be spent this year.
He said there will be absolute prudence in making sure Anambra gets value for the money that will be borrowed.
He further stated that money would be judiciously used to create wealth for the benefit of the people of the state.
The governor commended members of the House of Assembly for being diligent, responsible and responsive to their job as lawmakers and representatives of the people of Anambra State.
He canvassed for stronger synergy between the legislative and other arms of government for greater Anambra.
“The patriotic and responsive manner the budget was passed by the State House of Assembly was not only commendable but signalled the birth of a new partnership for a greater Anambra,” he said.
According to him, there was no underhand dealings in signing the budget, rather the process was conducted with integrity, patriotism and responsiveness.
Soludo recounted that in his campaign manifesto, N250 billion was estimated as the amount required to build critical infrastructure towards the realisation of the livable and prosperous homeland in the state that every Anambra person yearns for.
He, however, lamented, that the resources at the government disposal are abysmally lean, adding that the earnings from the oil sector had become so low.
According to the governor, the government was left with no option but to ratchet up multiple strategies including taking a look at the trajectory of expenditure, introducing prudence in spending, among others.
He also stated that as part of the measures to improve government finances, efforts are being made to digitize the Internally Generated Revenue of the state to eliminate leakages.
The governor specifically thanked the Speaker and the House members for understanding the exigencies to approve the planned loan.
“I promised Ndi Anambra the money will be spent on critical infrastructure, particularly on roads, bridges, flyover, among other strategic places.
“I thank Ndi Anambra for their support and sacrifices through payment of their fair share of taxes and others. For people who have violated public order such as indiscriminate building of illegal structures, we say enough is enough. These are necessary, painful steps that we must take to rescue our state,” he said .
