PDP Raises Alarm Over Another US$280m Loan By Gov Amaechi

…Says Rivers State Is Mortgaged Forever

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The Peoples Democratic Party, PDP, Rivers State chapter has raised alarm over Gov Amaechi’s penchant for collecting external loans which it describes as a plot to mortgage the State and enslave the Rivers people forever.

Governor Rotimi Amaechi
Governor Rotimi Amaechi

The PDP noted this through a statement by the Special Adviser on Media to the State Chairman of the Party, Jerry Needam while reacting to Gov Amaechi’s letter for approval to his loyal members of the State House of Assembly for yet another loan of US$80m and US$200m (Two Hundred and Eighty Million US Dollars in all)from the African Development Bank, ADB and the World Bank respectively, purportedly for water supply and sanitation projects.

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Regretting the far reaching consequences of these loans despite the huge resources of the State from internally generated revenue and federal allocations, the PDP said there can’t be any other reason for these incessant loans by an outgoing governor than to punish the incoming administration and the State in particular.

The Party also wants to know what has happened to the US$100m (One Hundred Million US Dollars) and other loans also approved by same rubber stamp lawmakers for Amaechi about three months ago for same purpose.

Condemning this new move as unacceptable and sheer wickedness by a drowning person not wishing to die alone, the PDP enjoins the approving federal ministry of finance, the State Lawmakers as well as the AFDB and World Bank not to honour the loan requests so as not to be held responsible by posterity as one of those that wrecked avoidable havoc on the State.

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“Whether the loans have short or long term repayment conditions, it’s immaterial at this point, for any society that lives on loans has no future and can never develop its own potentials. It’s unfortunate this is all Amaechi can wish a highly prosperous State like Rivers State, the natural seat of oil and gas, a natural resource that has made havens of the nations that have it”, the PDP remarks.

The PDP regretted that the latest loan of US$280m which has a 22 years repayment period would be used to fund Governor Amaechi’s 2015 election and the APC activities

2 Responses to "PDP Raises Alarm Over Another US$280m Loan By Gov Amaechi"

  1. Auditor Embassy O. Igbadumeh
    Auditor Embassy O. Igbadumeh   July 8, 2014 at 3:05 am

    They have said this to EDO STATE GOVERNOR, those words do not move me again, they could hv analyz it to nigeria naira not in Dollars.

  2. Zainab Omonhan
    Zainab Omonhan   July 8, 2014 at 2:19 am

    He is collecting d loans so dat after his tenue he has wat 2 live on all 4 d rest of his life & leav 4 his generation yet unborn 2 inherit. ( dats nija 4 u. Selfish & wicked )


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