Governor Chukwuma Soludo of Anambra State has revealed that his administration withdrew from a pre-existing World Bank loan arrangement to prevent the state from falling into excessive debt.
Speaking on Sunday while addressing the media team of the late Senator Ifeanyi Ubah during their inspection of the ongoing Government House and Governor’s Lodge project in Awka, Soludo emphasized his commitment to financial prudence.
He stated that his administration had neither borrowed from any institution nor accessed the Federal Government’s loan offer to states in 2024. Despite this, he said, the government had undertaken ambitious, people-centered projects at various stages of completion.
“It may interest you to know that Anambra is the only state that pulled out of an existing World Bank loan arrangement signed before I took office. I examined the terms and found them unsustainable. It would have been easy to continue, leaving future generations to bear the burden, but it was a bad deal for Anambra,” Soludo explained.
He noted that in 2023, N438 billion was distributed among 35 states, with Anambra being the only state that declined to participate. “I need money, but I cannot borrow my state into slavery,” he added.
Soludo highlighted the significance of the Government House and Governor’s Lodge project, stating that Anambra was finally getting permanent facilities 34 years after its creation. He described the ongoing construction, which includes 34 buildings, as a landmark project designed to last for centuries, comparing it to the White House in the United States.
“We are breaking the jinx with the biggest and best, something that has been described as a mini city,” he said.
On infrastructure, Soludo disclosed that his administration had worked on over 750 kilometers of roads, with 410 kilometers completed. He also mentioned improvements in education, healthcare, youth empowerment, and social reorientation, emphasizing his commitment to restoring the value of dignity in labor.
“I promised Anambra people that I would show them where every kobo they entrusted to me is being spent,” he assured.
Reacting to the governor’s achievements, Kamen Ogbonna, leader of the Ubah media team, expressed admiration for the progress made in three years without borrowing. “The scale of the Government House and Governor’s Lodge project explains why previous administrations avoided it,” he noted.
Nollywood actors, including Steve Alajemba (Uwaezuoke) and Collins Monago, who accompanied the team, commended Soludo’s efforts and urged Anambra residents to support his administration ahead of the November 8 gubernatorial election.
