Anambra State Governor, Chukwuma Soludo, has revealed that his administration withdrew from an existing loan agreement with the World Bank to prevent the state from being trapped in long-term debt.
Speaking on Sunday while addressing members of the late Senator Ifeanyi Ubah’s media team during their inspection of the ongoing Government House and Governor’s Lodge project in Awka, Soludo emphasized that his government has refused to borrow from any financial institution or even access federal loans available to states in 2024.
He stated that despite this decision, his administration had undertaken ambitious projects that were at various stages of completion.
According to Soludo, Anambra is the only state that opted out of a World Bank loan deal that had been signed before he took office.
“I reviewed the loan terms and found them unsustainable. It would have been easy to continue with it since future generations would bear the burden, but it was a bad deal for Anambra. Last year, N438 billion was shared among 35 states, yet Anambra was the only one that declined to take it. I need funds, but I will not mortgage my state’s future,” he stated.
The governor also highlighted his administration’s effort to provide Anambra with a permanent Government House and Governor’s Lodge, 34 years after the state’s creation.
“This is a landmark project with about 34 buildings, constructed to stand the test of time. In 200 years, they will still be standing strong, just like the White House in America,” he said.
On infrastructure, Soludo noted that his administration has completed 410 kilometers of roads out of a total of 750 kilometers under construction, focusing on areas that have never had tarred roads before.
Beyond infrastructure, he mentioned significant investments in education, healthcare, youth empowerment, and restoring societal values by promoting dignity in labor over the growing “get-rich-quick” culture.
“When I took office, I promised Anambra people transparency, and I have shown them where every kobo is being spent,” he added.
Speaking on behalf of the visiting media team, Kamen Ogbonna commended the governor’s achievements, particularly his ability to execute large-scale projects without borrowing.
“The scale of the Government House and Governor’s Lodge shows why previous administrations avoided it, but Soludo has taken on the challenge,” Ogbonna said.
Nollywood actors Steve Alajemba (Uwaezuoke) and Collins Monago, who were part of the tour, also praised Soludo’s work and urged the people of Anambra to support him as he seeks re-election in the November 8 governorship poll.
