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PDP, APC trade words over $75 million World Bank loan

By News Express on 08/08/2015

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The Peoples Democratic Party (PDP) and the All Progressives Congress (APC) are trading words over a $75 million loan requested from the World Bank by the State government.

Although the State government controlled by the APC is still waiting for the approval from the National Assembly, the PDP is kicking against the loan request.

Speaking to Channels Television on Friday in Benin City, the Edo State capital, the Publicity Secretary of the PDP, Chris Nehikharie, alleged that Governor Adams Oshiomhole would further worsen the state’s debt profile by taking the loan.

They asked the Senate to reject the proposal, claiming that the State government would divert the money for election campaign.

“In this government alone, the local government alone has received 212 billion Naira as at May this year.

“We are in shock. It is unbelievable that this government wants to collect more money and bequeath the debt legacy. We reject it and we beg the Senate and the President of Nigeria to reject it,” Mr Nehikharie said.

He asked the Edo State government to provide indices that would prove that the first trench of the loan was successfully utilised, as claimed.

In reaction, the APC Chairman in Edo State, Anslem Ojezua, said the loan was a testimony to the good works of the State government.

“Ordinarily, because they don’t give out gifts, that is why they called this a loan. It attracts one per cent interest, a moratorium period of 10 years and the State Government has 40 years to pay.

“How does this compare with the loans the PDP takes?” he questioned.

President Buhari had written a letter to the Senate seeking the approval of the $75 million loan on behalf of Edo State.

The letter has been read on the floor of the Senate by the Senate President, Senator Bukola Saraki, and the National Assembly will deliberate on the request and come out with a final decision. (Channels TV)

Source News Express

Posted 08/08/2015 05:25:17 AM


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