The senate on Thursday approved the $75m World Bank loan for Edo state.
This decision was taken following the consideration of the report of adhoc committee on local and foreign debts.
The Members of the Committee include; Sen. Kabiru Gaya, Sen. Bukka Abba, Sen. David Umoru, Sen. Durofashe, Sen Emmanuel Polka, Sen. Samuel Anyanwu and Sen. Ibrahim Abdullahi.
Sen. Ali Ndume,the senate leader was in full support of the loan, stating that other states in need of monetary support should take advantage of the low interest loans rather than the patronizing commercial banks.
“The first trench of this borrowing plan had already been approved by the senate and the World Bank has strict borrowing conditions which the state has met.
“I therefore move that we approve this loan,” he said.
Also, Sen. Adamu Aliero (APC Kebbi Central) who was also in support said that the loan will help increase the internally generated revenue of the state and therefore urged the Senate to approve the loan.
However, Sen Mattew Urhoghide (Edo South) said he was in support of any opportunity to bring the development to citizens but the people of Edo state are not in support of the loan.
He said that on the day the Senate received the letter from President Jonathan, he got over 2000 text messages and emails.
“Out rightly, the people have said that they do not want the loan.
“This loan was premised on certain things that the state government said it was going to do.
“It was to enhance private sector development, increased IGR in the state and increase private investment and employment opportunities.
“I am not standing to oppose what has been granted by Mr President or the desire of the state government, I am here to look at some of the claims of the things that have been done.
“We need to verify some of the claims that has been made, we need to look at the report that has been given by the World Bank if they are satisfactory,” he said.
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