Gov Ikpeazu justifies N10bn Loan
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