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‘Why We Approved N11bn Loan For Gov’

Leadership Of Akwa Ibom State House Of Assembly Explains Why It Approved An N11 Billion Loan For The Gov. Udom Emmanuel Administration

Disturbed by criticisms trailing the decision of the Governor Udom Gabriel Emmanuel-led admin­istration to seek lifeline from Federal Government reserves, the Akwa Ibom State House of Assembly leadership has given insight into why it approved an N11 billion loan for the government.

Speaking in an interview at his office in Uyo, the Deputy Chief Whip of the 26-member Assembly, Otuekong Nse Udofot Essien, explained that the resort to loans became necessary for the administration to live up to the expectations of the people.

According to him, Gov. Emmanuel came with a bag of promises specially designed to industrialize the state, create jobs, wealth, infrastructure, empowerment and agrarian revolution, adding that such laudable programmes could
only be achieved when enough funds were available.

Essien, who doubles as the Chairman of the House Committee on Commerce, Industry and Investment, said the Governor was forced to seek the lifeline from the Federal Government in order to implement his policies and programmmes. Recall that Governor Emmanuel had recently transmitted two letters to the House, seeking approval to access Federal Government’s funds for agriculture and infrastructure.

And the lawmaker representing the Onna State Constituency explained that the requests, which have already

been granted, would be channeled into productive ventures including infra­structural development, industrializa­tion, agriculture and human capital development.

While N10 billion of the loan would be devoted to laying the foundation for industrialization, the balance of N1 billion, he explained, “is purely for agriculture for farmers to access at 9 percent interest rate”.

The Deputy Whip, who faulted critics of the loans, drew their attention to the fact that “successive governments, since the days of the first Military Administrator of the State, Tunde Ogbeha, had taken loans to implement the policies and programmes of their administrations”.

He recalled that the immediate past administration of Senator Godswill Akpabio, had clear focus to fix infrastructure, noting that the major policy thrust of the Emmanuel government hinges on industrialization.

He therefore, enjoined the people to be patient with the administration for its good intentions for the State and its people to evolve.

The lawmaker, who envisages Akwa Ibom of everyone’s dream in the next four years, noted that the
government has since hit the ground running by setting the tone for a complete turnaround of the economy from
its current civil service status to an industrialized economy.

In last 100 days, Deacon Emmanuel, the Deputy Whip recalled, had revived some collapsing industries including the Peacock paint at Etinan, Quality Ceramics, roads construction and approval of 10 Sport Academies across the 10 Federal Constituencies.




– Iniobong Ekponta, Uyo

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