The approval followed the consideration and adoption of the report of the House Committee on Public Accounts during plenary on Thursday in
Awka.
Soludo had, on July 5, written to the Assembly, seeking approval to
secure a N100 billion Global Limit Multiple Term Loan Facility from CBN,
for the construction and refurbishment of key infrastructure in the
state.
Presenting the report, Mr Somto Udeze, representing Ogbaru Constituency
ll and Chairman of the committee said that the Commissioners for Finance
and Economic Planning and Budget were invited for interaction on the
terms of the loan facilities.
Udeze said that the discussion was to ascertain the terms of the loan,
monthly deductions, duration of the loan, the interest rate, project
specifications and the current debt profile of the state.
He said that the Committee was satisfied with the answers provided by
the commissioners.
“We observed that the N100 billion loan was strictly for the
construction of roads, bridges and flyovers across the state.
“It was also observed that the current debt profile of the state at
about N107 billion can still accommodate more of such loans considering
the expected outcome and impact on the residents of the state.
“However, we recommended that the Commissioners should provide the list
of the proposed project descriptions and expected cost of each project
for ease of oversight function subsequently; and that was done
“That the loan should be secured at single-digit interest rate and be
used for feasible infrastructure development alone.
“We also recommend the need for increased internally generated revenue
to minimise borrowing to fund Infrastructure development in the state,”
he said.
Meanwhile, some lawmakers lamented that not all the 30 constituencies in
the state were captured in the proposed infrastructure upgrade.
The Speaker of the House, Mr Uche Okafor commended the committee for
thorough scrutiny of the loan request and conducted a voice vote for the
adoption of the report.
The House granted the governor’s request in a unanimous resolution.
Also at plenary, the House passed a bill to establish the system of Criminal Justice Administration in Anambra and to provide for related matters.
The Bill titled, ‘Administration of Criminal Justice Bill 2022, Repealand Re-enactment,’ was read for the third time and subsequently passed during plenary.
The Speaker, directed the Acting Clerk, Mrs Esther Anetoh to send a clean copy of the Bill to the State Governor for assent.