Politics

Lagos PDP blasts Ambode’s N39bn World Bank loan

Governor Akinwunmi Ambode of Lagos state controversial decision to facilitate a World Bank loan of N39.4bn has been derided by the state chapter of the Peoples’ Democratic Party (PDP). In a press release from the party’s secretariat, the party advised the governor to rethink his “hasty” decision to borrow pending the book check on all previously accumulated loans in the state, especially by the last administration of ex-Governor Babatunde Fashola.

The PDP also believes the Governor doesn’t have the wherewithal to fight corruption and graft in the state. The statement read

“The party’s positions are on the heels of the reports of another World Bank loan and the recent announcement by the governor to scrap the state’s finance and administration department while renaming its administration and human resources department,”

The PDP noted that “the rate at which the state facilitates loans is very embarrassing thereby mortgaging the future of the state. “Why indeed will a state still run after a World Bank loan when such state realises an average of N27bn as monthly internally generated revenue? Governor Ambode should have a rethink and be prudent,” it said.

The party is also asking for a well-articulated plan of why the loan is needed and what it would be earmarked for. It said, “Again we reiterate that this administration will not be different from the two previous administrations in the areas of amassing unwarranted loans and fighting corruption in the state.

Governor Ambode does not have the will and cannot exert his authority to fight corruption in this state; otherwise all a governor should do in Lagos State is to block the leakages and the monthly IGR now standing at N27bn will definitely shove up.

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“But alas, this governor is jittery to fight corruption and block the financial leakages because the state’s tax consultant firm, Alpha Beta, is believed to be the company of the governor’s godfather.

Until the services and activities of the firm in the state are probed, Lagosians will continue to bear huge figures of loans in spite of huge IGR.”

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