Home News I won’t spend N1billion CBN Agric loan on frivolities, says Gov Ikpeazu

I won’t spend N1billion CBN Agric loan on frivolities, says Gov Ikpeazu

by Our Reporter

…decries declining federal allocation to states

 

The Governor of Abia State, Dr. Okezie Ikpeazu, has promised not to use

the N1 billion (One Billion Naira) Commercial Agricultural Credit Scheme

loan which the state recently obtained from the Central Bank of Nigeria

(CBN) from frivolities.

 

Speaking at Umuahia South and Isiala Ngwa North local government

headquarters, he promised to make judicious disbursement of the money for

the development of the state.

 

The governor, according to a statement issued on Saturday by his Chief

Press Secretary, Emmanuel Enyinnaya Appolos, gave the assurance while

rendering his one year stewardship in the state to the people of Abia

Central Senatorial District, as part of the ongoing town hall meetings in

the state.

 

The ongoing town hall interactive meeting was previously held at Ohafia

and Isuikwuato LGAs for Abia North Senatorial district of the state.

 

Abia South district meeting is next on the program aimed at rendering the

governor’s stewardship in the past one year to the people as well as get

direct feedback from them.

 

He decried the declining federal allocations to the state, but assured

that his government will ensure that the current economic crisis will not

affect his infrastructural development program and payment of workers’

salaries in the state.

 

Ikpeazu, however told the people of the state that he should not be

pitied, over the harsh economic situation, stressing that he believes God

has reasons for whatever circumstance He (God) allows.

 

The governor said, “I want you to understand that we are in tough times in

the state. I am sure you’re aware of the economic hard times in the

country that has occasioned the drastic drop in our monthly allocation to

as low as N1.7 billion.

 

“Out monthly allocation as at today cannot support payment of workers

salaries, not to talk of executing other projects. This has also impacted

on our IGR as a state.

 

“Don’t pity me because of the tough times. I know that my God is able to

handle the situation. But let me assure you that amidst this obvious

challenge, our government will continue to improve on our infrastructure

and also pay salaries as we can, but I ask for your understanding and

support in this hard time.

 

“We do not have any other option than to improve the infrastructure in the

state, especially at Aba, the commercial-hub, to motivate people to pay

taxes thereby improving the internally-generated revenue of the state.

 

“Let me also reassure you of my promise, as your Governor, not to

misappropiate the confidence you bestowed on me.

 

“Let me inform you that we have received N1b agricultural loan from the

CBN. This loan, I assure you, will be judiciously distributed to genuine

farmers amongst us. I know our farmers, and let me inform political

farmers whose farms are on the internet not to bother coming because this

loan is not for you.”

 

Governor lkpeazu, who enumerated some of the achievements of his

government  in road infrastructure improvement and other strategic sectors

of the economy within the period of one year, further assured that the

free school meal program will be sustained for the benefit of Abia school

children and their parents.”

 

According to him, food stores have been opened in the three Senatorial

Districts of the state, and will later be opened in all Local Government

Areas for the sustenance of the free school meal program which his Govt is

implementing with massive support from the private sector.

 

 

 

 

 

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