CD urges Gov. Obi to rescind decision on $75 million loan


Peter Obi

The Campaign for Democracy (CD), South-East Region has urged Gov. Peter Obi of Anambra to rescind his decision to borrow $75 million (N12 billion) loan for erosion and flood control.

This was contained in a statement issued to newsmen by CD in Onitsha, Anambra on Saturday.

The statement was signed by Dede Uzor A. Uzor, Chairman, CD South-East Region.

It would be recalled that immediately after the flood disaster, which affected Anambra State and other states; the Federal Government gave Anambra government N500 million for its post-flood rehabilitation.

“And from our records, Anambra State had not utilize up to N100 million from the N500 million released to it by the Federal Government.

“It is very unfathomed and unnecessary for Gov. Obi to go ahead to borrow this amount of money even as his administration had been doing well managing the state lean resources for over six years now,’’ it said.

CD, however, recalled that the governor during his election campaign did promise the good people of Anambra that he would not borrow a kobo to run the state affairs; adding: “Any time I borrow or school children go on strike, I would resign’’.

“Now that there is high rate of unemployment, which had accumulated into insecurity in Anambra; we urge the governor to reduce crime by opening more workplaces to engage the youths.

“Instead of embarking on this excessive venture of borrow such a huge amount of money.

“We urge him to do with and manage the ecological funds given to him by the Federal Government to tackle the erosion menace but dealing squarely with security and job creation issues.

“The borrowing would bankrupt the state and damaged its economy further,’’ it said.

The statement further said that any further action to access the loan would lead to a massive protest by civil society groups in the state against the state government.



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