Gov Ik­peazu jus­ti­fies N10bn Loan

Daily Trust - - INSIDE POLITICS - From Li­nus Ef­fiong, Umuahia

Gover­nor Okezie Ik­peazu of Abia State has said that the N10­bil­lion in­fras­truc­tural loan ap­proved by the State House of Assem­bly would be used for projects in the 24 state con­stituen­cies.

The gover­nor, who said this while speak­ing with jour­nal­ists in Umuahia, added that it would also be used to com­plete the resur­fac­ing of ma­jor streets in Umuahia and Aba, the con­struc­tion of a fly­over in Aba and the re­newal of sub­ur­ban cities like Ohafia.

Gover­nor Ik­peazu said the loan from the Cen­tral Bank of Nige­ria (CBN) would have the re­pay­ment spread over a pe­riod of 20 years, say­ing that the col­lat­eral for the loan would be from the ex­cess crude ac­count.

The gover­nor also said that those in­volved in eco­nomic sabotage against the state like ghost work­ers syn­drome would be brought to book.

He con­firmed that the state had re­ceived fed­eral gov­ern­ment’s bailout of N14.12bil­lion and re­it­er­ated that all ar­rears of salaries and pen­sions would be cleared by the end of Oc­to­ber.

He also as­sured that the money would be used strictly for that pur­pose, adding that the money re­cov­ered from the leak­ages in the sys­tem had en­abled the gov­ern­ment to mo­bi­lize the 31 con­trac­tors cur­rently han­dling var­i­ous road projects in the state.

Ag. PDP Na­tional Chair­man, Prince Uche Se­con­dus

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