ANAMBRA HOUSE OF ASSEMBLY APPROVES GOV. SOLUDO'S REQUEST TO BORROW N100BN FOR INFRASTRUCTURE PROJECTS; AS THE GOVERNOR SIGNS THE REVISED 2022 BUDGET INTO LAW

My first reaction as I signed the revised 2022 budget was gratitude to a responsive and responsible Legislature. I thank them for a strong partnership, which of course is a fundamental pillar of our quest for good governance. I feel deeply grateful to the leadership of the House for being able to deliver the revised budget on time.

In a world where this kind of process is fraught with under-hand dealings, I can beat my chest to say the Honourable Members of the House of Assembly did their work with integrity. Not a penny exchanged hands for inducement or any such thing. Indeed, this is the sign of a new way of approaching governance that we are excited to mainstream.

On the budget financing, I am also very happy that the House has graciously approved our request to borrow a 100 billion naira.
I understand, in the short-term, the people cannot wait. Which is why as part of our financing plan, we have moved to borrowing.

Out of the 250 billion required per annum to fill our critical infrastructure gap, we have settled for 100 billion which we hope to rollover to next year's budget.

For every kobo of this borrowing, we will channel it to meeting our critical infrastructure needs. We have chosen a multi-strategy approach, first is bringing prudence to public expenditure, boycott all unnecessary spendings and ratchet up our internally generated revenue. We are also cleaning our wage bill, increasing focus on paying off the back log of pensions and gratuity arrears, including those of Local Government workers.

The journey towards a liveable and prosperous homeland has only begun. Ndị Anambra will get value for every kobo of this budget. With a state of emergency on our public finances, we are determined to take painful, but necessary steps to rebuild our Homeland.

May Anambra continue to succeed.

CC. Soludo, CFR.

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Source..
GOV. SOLUDO'S OFFICIAL FACEBOOK PAGE..
https://www.facebook.com/103104878681389/posts/360305219628019

This man is truly an economist, that knows how financial system works

A dumb black man goes to the bank to save his resources for banks to use, while his money remains the same the bank makes intrest lending to investors

An intelligent white man, gets a sure income, goes to bank to get loan to finance a start up business, uses a loan to get a car and also gets a mortgage and a prepaid contract phone.... He pays back the loan from his profit margin within 10 years and he has access to acquire more asset, and his business earnings would have afforded him another car and another house

10 years after saving, a dumb black man, buys a Tokunbo used by the intelligent white man, he buys UK used Iphone 8 used by the white dude, and buys his first land to build after 5 years of another savings



.

It is now official.
Our Governor is starting off with Borrow-Borrow..

..
Well.
It's Not a bad thing at all, that is, if he is going to channel the money into good use, and that he already has the repayment strategy well planned and panned out.
..
So, it is up to him and his Government to better put the money into good use.
..
AS FOR STINGINESS,,
Hmmmm..
Soludo stingy pass Peter Obi ooo..

Borrowing for infrastructures? Not bad ooo. Hope these infrastructures will generate money ooo..

Even Buhari no borrow up to 100b in his first 100 days in office.

monumental failure

They think being young is tantamount to smartness, intellectual, visionary and prosperity


They attack Tinubu for being old yet I challenge them to name any young politicians that's performing excellently in their respective office

The problem is not the amount of money borrowed, but rather its use(es).

Oxb90:
The problem is not the amount of money borrowed, but rather its use(es).

They have started defending failure


If this happens to any SW governor, hell would let lose

KingKO22:


They have started defending failure


If this happens to any SW governor, hell would let lose

This shouldn't be your concern in any way.

KingKO22:


They have started defending failure


If this happens to any SW governor, hell would let lose

Not at all bro. They must build infrastructures and the economy is bad. And you know of course that this is a new government. The past governor stole and you saw what happened to him at the airport when he was trying to flee the country after his handover to this present governor. Even though we are yet to see his prosecution.

Soludo is not going to use his personal money to do any projects. It's the state money that will be used for that purpose and when there none left in the state coffers what else is he going to do than to seek for funds externally.

My own here is that every money borrowed should be accounted.

Peter Obi ruled Anambra for 8 years without borrowing a dime.

The other I also read somewhere that Oyetola has not borrowed one naira so far as Osun governor.

Yet in less than 6 months into office, Soludo is already requesting to borrow #100billion.

I hope Anambra hasn’t made a mistake?

Penguin2:
Peter Obi ruled Anambra for 8 years without borrowing a dime.

The other I also read somewhere that Oyetola has not borrowed one naira so far as Osun governor.

Yet in less than 6 months into office, Soludo is already requesting to borrow #100billion.

I hope Anambra hasn’t made a mistake?

We are currently battling with this question ooo...
Like, Four Years is still very very far away ooo.

Oxb90:
Not at all bro. They must build infrastructures and the economy is bad. And you know of course that this is a new government. The past governor stole and you saw what happened to him at the airport when he was trying to flee the country after his handover to this present governor. Even though we are yet to see his prosecution.

Soludo is not going to use his personal money to do any projects. It's the state money that will be used for that purpose and when there none left in the state coffers what else is he going to do than to seek for funds externally.

My own here is that every money borrowed should be accounted.

..
We are going to be demanding Monthly reports from him..
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Weekly reports sef, of how every dime were spent.

He already has the reimbursement approach well planned and panned out.In less than 6 months into office, Soludo is already asking for to borrow #100billion.
I hope Anambra hasn’t made a mistake?https:///borrowborrow ,but looking at it from another angle It's Not a terrible thing in any respect though , if he is going to channel the cash into accurate use

Just now just now

Moh247:





This man is truly an economist, that knows how financial system works

A dumb black man goes to the bank to save his resources for banks to use, while his money remains the same the bank makes intrest lending to investors

An intelligent white man, gets a sure income, goes to bank to get loan to finance a start up business, uses a loan to get a car and also gets a mortgage and a prepaid contract phone.... He pays back the loan from his profit margin within 10 years and he has access to acquire more asset, and his business earnings would have afforded him another car and another house

10 years after saving, a dumb black man, buys a Tokunbo used by the intelligent white man, he buys UK used Iphone 8 used by the white dude, and buys his first land to build after 5 years of another savings



.

Trash

[quote author=OloYeOfEgbE post=114965001]

Trash[/quote

Mr LAWMA, pack it

Penguin2:
Peter Obi ruled Anambra for 8 years without borrowing a dime.

The other I also read somewhere that Oyetola has not borrowed one naira so far as Osun governor.

Yet in less than 6 months into office, Soludo is already requesting to borrow #100billion.

I hope Anambra hasn’t made a mistake?

If 100 billions is taking in 100 days, that means in four years Anambra debt will increase by N1.46 trillion 'all things being equal' giving the increasing level of appetite .

I hope these debts are tied to Capital Expenditures like the FG is doing under President Buhari

BluntCrazeMan:
We are currently battling with this question ooo...
Like, Four Years is still very very far away ooo.

Honestly!

You know when the debates began, that was when I found out that the best candidate on offer in that election was Valentine Ozigbo of PDP.

But of course, in the spirit of “Nkea bu nke anyi” Soludo was voted for.

I just hope to start seeing flyovers springing up in Onitsha to decongest the heavy traffic in that city, plus other infrastructures with this loan.

If not, just know it that Anambra has entered one chance.

See what Tinubu caused.

Reading through the comments shows how our collective cultural appreciation of "Good debts vs bad debts" as a nation often makes us fail to appreciate tiny bits of information that could have been beneficiary to us.

Granted, Government is largely made up of individuals that are known to be chronic fraudsters whose aim is to make the masses a potential permanent dupper, notwithstanding Government needs to borrow for capital expenditures especially in a country like ours

Loans are not in any way bad in as much as there is a profit attached to it's purpose. What we need as a Nation is actually to press for transparency of funds allocation and disbursement. The FOI bill gave us these powers but hardly have I heard or read about a strong advocacy group championing these courses to monitor Government spending rather we focus on the irrelevance of how much is being borrowed.

Everything from the government doesn't have to be false all the time, I know people who benefited from the Anchor borrower programme(ABP) initiated in 2015, One of them is now a big time Rice producer and employs close to 50 people at her rice mill in Ogbomosho...

This is the Anambra they are using as yardstick. The governor has not spent 100 days, he has been looking for 100 billions loan. I think with this loan Anambra will be turned into Dubai and the citizens will never have the will to travel abroad again. No politician in Nigeria is worth praising or fighting for. They are all fighting for their pockets. Know this, know peace

Soludu is another disaster waiting to happen in Anambra.

I thought IPOD said Onisha,Nwewi are the epicentre of Nigeria's industrialized cities? Why can't Soludo Ludo generate incomes from the said industrialized state?

Later,we will see them in Lagos claiming our Land and professing loyalty to the West claiming they developed Lagos and ordinary Nwewi,they can't.

Soludu is clueless just like Buhari. More inflation to Anambra and Nigeria at large.

Stupid leaders. They can't think of how to generate revenue unless they borrow. They should all go and learn from Asiwaju.

He has to work and also, store some. The money he spent on campaign have to be retrieved and doubled.

this one load

Moh247:

Done....

Transportation minister,call your boys to drive it to Egbeda and burn it there

I'm divided on this. I wouldn't have expected him to start borrowing but to attract investments to the state to generate more internal revenue. However, with the current security situation the state is facing, that isn't feasible. I guess this is the best option and I hope it is well utilised

Moh247:





This man is truly an economist, that knows how financial system works

A dumb black man goes to the bank to save his resources for banks to use, while his money remains the same the bank makes intrest lending to investors

An intelligent white man, gets a sure income, goes to bank to get loan to finance a start up business, uses a loan to get a car and also gets a mortgage and a prepaid contract phone.... He pays back the loan from his profit margin within 10 years and he has access to acquire more asset, and his business earnings would have afforded him another car and another house

10 years after saving, a dumb black man, buys a Tokunbo used by the intelligent white man, he buys UK used Iphone 8 used by the white dude, and buys his first land to build after 5 years of another savings



.

Rehashing Tinubu’s mortgage economics, huh?

Ever been in debt before?

Ever borrowed money from a loan app to invest in something you think is “sure” only for life to happen and you are grappling with how to pay back?

I guess not.

Because if you ever have, you would realize the stupidity of Tinubu’s mortgage economics.

Things don’t always work out the way we plan them and that’s why you cannot advise anyone to take huge loans for startups. A lot of people who did have committed suicide while those still alive are either contemplating suicide too or are tired life.

It is easy to do such things in America and other developed world because there, govt helps you succeed but down here, half of the money you borrowed will be collected by govt as tax and business registration fees. You go still settle Agbero o!

So, hey, stop rehashing this Tinubu’s mortgage economics, it’s stupid.

Penguin2:


Honestly!

You know when the debates began, that was when I found out that the best candidate on offer in that election was Valentine Ozigbo of PDP.

But of course, in the spirit of “Nkea bu nke anyi” Soludo was voted for.

I just hope to start seeing flyovers springing up in Onitsha to decongest the heavy traffic in that city, plus other infrastructures with this loan.

If not, just know it that Anambra has entered one chance.

Yea .....that pdp guy sounded very intelligent during the debate.

He was clearly better than soludo and uba when it comes to modern innovation and plans.

That uba Was a disgrace....the man couldn't even make good sentences.

I was wowed by him that day.

I just have the faith somehow that this man will deliver, Is an economist for crying out loud and he knows all eyes are on him

Penguin2:


Rehashing Tinubu’s mortgage economics, huh?

Ever been in debt before?

Ever borrowed money from a loan app to invest in something you think is “sure” only for life to happen and you are grappling with how to pay back?

Fear fear Ibo man

You borrow for Investment and asset with fast liquidity

If you can make mortgage debt payments you can sell off the house through foreclosure, get some tiny change, while the bank keeps the rest

And loan shark are not sustainable loan so no point comparing it here