The Anambra State Governor, Prof. Chukwuma Soludo, has written the state House of Assembly seeking approval for N100 billion loan.
According to the governor’s letter to the state lawmakers dated July 5, 2022, the loan facility will be for the construction and refurbishment of key infrastructure in the state.
Soludo’s letter was read at the plenary on Friday by the Speaker, Mr Uche Okafor.
Making the announcement, the Speaker said, ”Mr Governor, is seeking the approval to secure a N100bn Global Limit Multiple Term Loan Facility for the construction and refurbishment of key infrastructure in the state.”
The letter was then referred to the House Committee on Public Accounts for consideration and they are expected to revert to the whole house on July 21.
Soludo had on assumption of office in March, said he inherited a heavy debt burden from his predecessor, Chief Willie Obiano, and that the state will need to think out of the box to generate money to run its affairs.
The loan facility, according to him, will be for the construction and refurbishment of key infrastructure in the state.
The lawmakers, thereafter, passed the state 2022 Revised Appropriation Bill of N169.6bn.
The approval came about 55 days after the governor had presented the bill to the House for approval, following the adoption of the report of the House Committee on Finance and Appropriation, led by Hon Obinna Emeneka, during the plenary.
While presenting the report, one of the lawmakers representing the Anambra East Constituency, Mr Emeneka, said the revised budget was made up of N108bn capital expenditure and N61.3bn recurrent expenditure.
He said, “After thorough scrutiny and review, we recommend that the size of the 2022 revised budget be retained except for little adjustments in some ministries, department and agencies’ allocation.
“That the sum of N169,621,744,131 be approved for the service of the Anambra State Government for the year ending, December 31, 2022, and for related purposes.
“The committee also recommends that subsequently, projects and contractors be specified and funds should be released to MDAs to ensure effective budget performance.”
The Speaker of the House commended the committee for what he called thorough scrutiny of the budget, while conducting a voice vote for the adoption of the report.
After the passage of the bill, the Speaker directed the acting Clerk of the House, Mrs Esther Anaetoh, to send a copy of the bill to Soludo for his assent.