The Senate on Thursday approved a 75 million
World Bank loan for Edo state’s Development
Policy Operation (DPO) as requested by President
Muhammadu Buhari. The approval followed the
consideration of a single-prayer report of the ad
hoc Committee on Local and Foreign Debt
presented by Sen. Kabiru Gaya (APC Kano
South). The committee in its report urged the
Senate to approve the loan, stating that the
World Bank had already considered the state
ready for it.
Sen. Adamu Aliero (APC Kebbi Central), in his
contributions, said that Edo State had qualified
for this loan, because the state had met the
conditions set by the World Bank. Aliero said that
the loan would help increase the internally
generated revenue of the state and, therefore,
urged the Senate to approve it. He also called on
other states that have the capacity to borrow, to
go ahead and take such loans, as long as they
could utilize such judiciously.
The Leader of the Senate, Ali Ndume, while
supporting the motion for the approval of the
loan, encouraged other states with genuine needs
to take advantage of such low interest loans,
rather than the patronising commercial
banks. “The first tranche 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. However, Sen. Matthew Urhoghide (PDP Edo
South) while supporting the approval of the loan,
expressed the misgivings of the people of the
State about it. He said that on the day the Senate
received the letter from Mr President, he got over
2000 text messages and emails; “out rightly, the
people have said that they do not want the loan.’’
Urhoghide, argued that although the loans would
bring about more gains for the people of the
state, there was need to accede to the yearnings
of the Edo people and verify the misgivings
expressed by the people of the state. The senator
said that the first tranche of the loan was used for
projects that were not visible, and urged that the
second tranche should be judiciously utilized to
clear the doubts of the people.
“This loan was premised on certain things that
the state government said it was going to do, it
was meant to enhance good governance, it was
not meant to be used on things that were
tangible or visible. “It was to enhance private
sector development, improve facilities for
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 views expressed by the people on the
things that have been done with first
tranche. “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.
The senate, however, approved the loan though
with a tangible number of dissenting voices. The
75 million dollars loan is the second tranche of a
225 million dollar Development Policy Operation
loan approved for the state by the World Bank.


Source: www.vanguardngr.com/2015/08/senate-approves-75-million-world-bank-loan-for-edo-state/

Good! oya osho baba start drawing your plan on how to use for the betterment of edo people, no go flex that with lara oh.

Iara go buy designer shoes and skimpy dresses tire.