The Lagos State chapter of the Peoples Democratic Party (PDP) has berated the state governor, Mr. Akinwunmi Ambode for obtaining a N39.4billion loan from the World bank. The party advised the governor to rescind the decision pending the clarification on all previously obtained loans in the state, especially by the last administration. In a statement issued yesterday by the party’s Publicity Secretary, Taofik Gani, the PDP said it was demanding a detailed public defence of the World Bank loan to justify such exercise at a time like this.
The Board of Executive Directors of the World Bank had earlier in the month issued a statement that it has approved $200m (about N39.4bn) credit to Lagos State to support a range of reforms relating to fiscal sustainability, budget planning, budget execution and the investment climate in the state.
While describing the governor as weak to fight corruption and block leakages in the state with the continual services of the tax consultant firm, Alpha Beta, the PDP also faulted the decision of the All Progressives Congress (APC) administration to rename the state’s finance and administration department. According to the PDP; “the history of loans in the state is very embarrassing and has plunged the state into local and foreign debts running into a trillion naira. Why indeed will a state still run after World Bank loan when such state realises an average of N27billion monthly as IGR? Governor Ambode should have a rethink and get prudent.
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