₦airaland Forum

I have taken some time to research on the loan descriptions as released by the Anambra State Government which they claim PO as Governor signed off and my findings are as follows:

1. The Nigeria Malaria Control Booster Project (MCBP) 2007:

This was financed through a US$180 million IDA credit from the World Bank to the Federal Republic of Nigeria, not a loan independently taken by the Anambra State Government. The World Bank records say the original IDA credit was approved in December 2006 and became effective on May 15, 2007.

Anambra was one of the seven participating states, along with Akwa Ibom, Bauchi, Gombe, Jigawa, Kano and Rivers.

VERDICT: FG was the borrower not Anambra State Government.

2. Fadama III:

This project was a World Bank/IDA-financed project for Nigeria. The World Bank's project documentation identifies the Federal Republic of Nigeria as the borrower, not Anambra State.

The original Fadama III project was approved in 2008. The World Bank records the project period as 2008–2013 and the original IDA financing as US$250 million.

Anambra was one of the states participating in the project. World Bank records specifically identify an Anambra State Fadama III Project, financed through IDA Credit No. 45960.

Therefore, describing the Anambra Fadama III programme simply as "a loan taken by Anambra State Government in 2007" would be misleading. The underlying World Bank borrowing was at the Federal Government level.

VERDICT: FG was the borrower not Anambra State Government

3. Health Systems Development ll (ADD FIN.)

The financial document listing Nigeria's state-level IDA obligations records “Health Systems Development” Anambra State, with a signing date of August 22, 2003, an amount of XDR 4,831,046, and a 0.75% service charge.

The same document separately lists Health System Development Project II (Additional Financing) for Anambra, so the 2009 reference may relate to the additional financing/HSDP II, rather than the original HSDP.

Anambra-specific records confirm that Health System Development Project II was World Bank-assisted, with activities being implemented in the state.

VERDICT: It was an FG project benefiting Anambra State. The Original document was signed in 2003 and 2009 was just an additional financing of the 2003 signed document.

4. The State Education Program Investment Project (SEPIP):

It started in 2013 and included Anambra State. However, the World Bank documents identify the Federal Government of Nigeria as the borrower, not Anambra State Government. The original financing was a US$150 million IDA credit to the Federal Republic of Nigeria, with funds disbursed to Anambra, Bauchi and Ekiti through subsidiary financing agreements.

The World Bank's financing agreement for the original SEPIP is Credit No. 5220-NG, dated April 16, 2013.

VERDICT: FG was the borrower not Anambra State.

5.The Community and Social Development Project (P090644):

This project became effective in February 2009.
The World Bank's project completion report identifies the Federal Government of Nigeria as the borrower of the original IDA financing. The original commitment was SDR 121.5 million (US$200 million equivalent).
Anambra was just one of the participating states.

6:The Nigeria Erosion and Watershed Management Project (NEWMAP):

This project was approved by the World Bank in May 2012 and became effective in September 2013.

The original financing agreement was between the International Development Association (IDA) and the Federal Republic of Nigeria, for US$600 million.

Anambra was one of the participating states and had its own State Project Management Unit (SPMU) implementing the project.

Anambra's project documents explicitly refer to the funds as part of the Federal Government's IDA credit. A 2014 procurement notice says the Federal Government had received the credit.

VERDICT: FG was the borrower not Anambra State Government.

7. The Value Chain Development Programme (VCDP):

Records shows VCDP was approved by IFAD in April 2012, not 2013.
The financing agreement was between the Federal Government of Nigeria (FGN) and IFAD, signed in August 2012.
The programme became effective in October 2013.

The original programme covered Anambra, Benue, Ebonyi, Niger, Ogun and Taraba.
The original financing included an IFAD loan of US$74.4 million, an IFAD grant of US$0.5 million, plus counterpart contributions from the Federal Government, participating states, LGAs and beneficiaries.

IFAD's documentation specifically describes the loan agreement as being between FGN and IFAD.

VERDICT: FG was the borrower not Anambra State Government.

OVERALL VERDICT:

All the project listed by the Soludo led Anambra State claiming that it was financed by loan independently taken by Anambra State Government under Mr. Peter Obi are 100% false and misleading. Verifiable World Bank records shows FG was indeed the borrower while Anambra State under Obi participated and benefited just like some other states.

#Copied

Peter needs to opt out of the race as promised!

He left debt despite achieving nothing!

Some minions try to applaud him for saving, but how can a state grow when massive investment in infrastructure and human development is excluded.

Obiano had an airport to his name even though it was a white elephant project to siphon the state treasury. He still had land mark project after that which I applauded!

What did Peter do with all Anambra state IGR and FG allocation for 8 years?

Buy shares in bank he was heavily invested in, and use state funds to prop it up, only to dump on the state he was governing. He knew Anambra people had less than average IQ and why they still applauded him despite stabbing the state treasury.

Peter cannot hide from facts! He should opt out of the race as promised

What a load of rubbish! States who are interested in foreign loans especially from the world bank had to go through the Federal government so that it can easily be organized for them and to aid easy repayment through deductions at source from the federation account. Peter Obi is an extremely dubious man if he is saying that he didn't know that those monies he was receiving were loans and he didn't ink his signatures to the agreements.

IkeOnyia:
What a load of rubbish! States who are interested in foreign loans especially from the world bank had to go through the Federal government so that it can easily be organized for them and to aid easy repayment through deductions at source from the federation account. Peter Obi is an extremely dubious man if he is saying that he didn't know that those monies he was receiving were loans and he didn't ink his signatures to the agreements.

God bless your mother!

I am always delighted to know we have members of this forum who still have brains.

Ofunaofu:
I have taken some time to research on the loan descriptions as released by the Anambra State Government which they claim PO as Governor signed off and my findings are as follows:

1. The Nigeria Malaria Control Booster Project (MCBP) 2007:

This was financed through a US$180 million IDA credit from the World Bank to the Federal Republic of Nigeria, not a loan independently taken by the Anambra State Government. The World Bank records say the original IDA credit was approved in December 2006 and became effective on May 15, 2007.

Anambra was one of the seven participating states, along with Akwa Ibom, Bauchi, Gombe, Jigawa, Kano and Rivers.

VERDICT: FG was the borrower not Anambra State Government.

2. Fadama III:

This project was a World Bank/IDA-financed project for Nigeria. The World Bank's project documentation identifies the Federal Republic of Nigeria as the borrower, not Anambra State.

The original Fadama III project was approved in 2008. The World Bank records the project period as 2008–2013 and the original IDA financing as US$250 million.

Anambra was one of the states participating in the project. World Bank records specifically identify an Anambra State Fadama III Project, financed through IDA Credit No. 45960.

Therefore, describing the Anambra Fadama III programme simply as "a loan taken by Anambra State Government in 2007" would be misleading. The underlying World Bank borrowing was at the Federal Government level.

VERDICT: FG was the borrower not Anambra State Government

3. Health Systems Development ll (ADD FIN.)

The financial document listing Nigeria's state-level IDA obligations records “Health Systems Development” Anambra State, with a signing date of August 22, 2003, an amount of XDR 4,831,046, and a 0.75% service charge.

The same document separately lists Health System Development Project II (Additional Financing) for Anambra, so the 2009 reference may relate to the additional financing/HSDP II, rather than the original HSDP.

Anambra-specific records confirm that Health System Development Project II was World Bank-assisted, with activities being implemented in the state.

VERDICT: It was an FG project benefiting Anambra State. The Original document was signed in 2003 and 2009 was just an additional financing of the 2003 signed document.

4. The State Education Program Investment Project (SEPIP):

It started in 2013 and included Anambra State. However, the World Bank documents identify the Federal Government of Nigeria as the borrower, not Anambra State Government. The original financing was a US$150 million IDA credit to the Federal Republic of Nigeria, with funds disbursed to Anambra, Bauchi and Ekiti through subsidiary financing agreements.

The World Bank's financing agreement for the original SEPIP is Credit No. 5220-NG, dated April 16, 2013.

VERDICT: FG was the borrower not Anambra State.

5.The Community and Social Development Project (P090644):

This project became effective in February 2009.
The World Bank's project completion report identifies the Federal Government of Nigeria as the borrower of the original IDA financing. The original commitment was SDR 121.5 million (US$200 million equivalent).
Anambra was just one of the participating states.

6:The Nigeria Erosion and Watershed Management Project (NEWMAP):

This project was approved by the World Bank in May 2012 and became effective in September 2013.

The original financing agreement was between the International Development Association (IDA) and the Federal Republic of Nigeria, for US$600 million.

Anambra was one of the participating states and had its own State Project Management Unit (SPMU) implementing the project.

Anambra's project documents explicitly refer to the funds as part of the Federal Government's IDA credit. A 2014 procurement notice says the Federal Government had received the credit.

VERDICT: FG was the borrower not Anambra State Government.

7. The Value Chain Development Programme (VCDP):

Records shows VCDP was approved by IFAD in April 2012, not 2013.
The financing agreement was between the Federal Government of Nigeria (FGN) and IFAD, signed in August 2012.
The programme became effective in October 2013.

The original programme covered Anambra, Benue, Ebonyi, Niger, Ogun and Taraba.
The original financing included an IFAD loan of US$74.4 million, an IFAD grant of US$0.5 million, plus counterpart contributions from the Federal Government, participating states, LGAs and beneficiaries.

IFAD's documentation specifically describes the loan agreement as being between FGN and IFAD.

VERDICT: FG was the borrower not Anambra State Government.

OVERALL VERDICT:

All the project listed by the Soludo led Anambra State claiming that it was financed by loan independently taken by Anambra State Government under Mr. Peter Obi are 100% false and misleading. Verifiable World Bank records shows FG was indeed the borrower while Anambra State under Obi participated and benefited just like some other states.

#Copied

You go explain tire.

FSBoperator:
You go explain tire.

Don’t mind him!

He thinks composing a novel makes a point!

Read through and found no tangible point.

Peter needs to sack all his media aides! They are piling down his image more than propping.

At a time, Peter was looking for cheap labour and he got it.

HacheNoire:
At a time, Peter was looking for cheap labour and he got it.

Giringori that admitted to taking advise from lunatics as governor you think wil surround himself with people of sound judgment?

See that ever dirty looking Aisha, that blasphemous Mama Pee and that cultist Randy Pete or whatever and the horde of Ipob posters here supporting Giringori like the OP and tell me , if Giringori no be bad market .

The more they try to demarket Peter Obi the more popular he becomes.

Children do not throw sticks at a tree without fruits.

If these agbado people spend all this time they use to demarket Peter on governance maybe Nigeria would be better but alas they have nothing upstairs and have nothing to offer to the Nigerian people.

3 years in power but nothing to show for it. 0

FSBoperator:
You go explain tire.

This is way beyond your mental capacity

obi4eze:
The more they try to remarked Peter Obi the more popular he becomes.

Children do not throw sticks at a tree without fruits.

If these agbado people spend all this time they use to demarket Peter on governance maybe Nigeria would be better but alas they have nothing upstairs and have nothing to offer to the Nigerian people.

•3 years in power but nothing to show for it.• 0

You are either blind or unintelligent; but it’s part of the criteria of being an obidunce though.

The mods should take this to front page the same way they did in the fallacious publication of Ojionu soludo.

Ofunaofu:
This is way beyond your mental capacity

You took the words out of my mouth.

Charles Soludo, the Economics professor, should tender an unreserved apology to Nigerians and the whole world for that embarrassing report riddled with infantile errors. I read that report and I felt pity and ashamed for Nigeria. The kind of incompetence Nigerians tolerate in this country is too much.

Ofunaofu:
I have taken some time to research on the loan descriptions as released by the Anambra State Government which they claim PO as Governor signed off and my findings are as follows:

1. The Nigeria Malaria Control Booster Project (MCBP) 2007:

This was financed through a US$180 million IDA credit from the World Bank to the Federal Republic of Nigeria, not a loan independently taken by the Anambra State Government. The World Bank records say the original IDA credit was approved in December 2006 and became effective on May 15, 2007.

Anambra was one of the seven participating states, along with Akwa Ibom, Bauchi, Gombe, Jigawa, Kano and Rivers.

VERDICT: FG was the borrower not Anambra State Government.

2. Fadama III:

This project was a World Bank/IDA-financed project for Nigeria. The World Bank's project documentation identifies the Federal Republic of Nigeria as the borrower, not Anambra State.

The original Fadama III project was approved in 2008. The World Bank records the project period as 2008–2013 and the original IDA financing as US$250 million.

Anambra was one of the states participating in the project. World Bank records specifically identify an Anambra State Fadama III Project, financed through IDA Credit No. 45960.

Therefore, describing the Anambra Fadama III programme simply as "a loan taken by Anambra State Government in 2007" would be misleading. The underlying World Bank borrowing was at the Federal Government level.

VERDICT: FG was the borrower not Anambra State Government

3. Health Systems Development ll (ADD FIN.)

The financial document listing Nigeria's state-level IDA obligations records “Health Systems Development” Anambra State, with a signing date of August 22, 2003, an amount of XDR 4,831,046, and a 0.75% service charge.

The same document separately lists Health System Development Project II (Additional Financing) for Anambra, so the 2009 reference may relate to the additional financing/HSDP II, rather than the original HSDP.

Anambra-specific records confirm that Health System Development Project II was World Bank-assisted, with activities being implemented in the state.

VERDICT: It was an FG project benefiting Anambra State. The Original document was signed in 2003 and 2009 was just an additional financing of the 2003 signed document.

4. The State Education Program Investment Project (SEPIP):

It started in 2013 and included Anambra State. However, the World Bank documents identify the Federal Government of Nigeria as the borrower, not Anambra State Government. The original financing was a US$150 million IDA credit to the Federal Republic of Nigeria, with funds disbursed to Anambra, Bauchi and Ekiti through subsidiary financing agreements.

The World Bank's financing agreement for the original SEPIP is Credit No. 5220-NG, dated April 16, 2013.

VERDICT: FG was the borrower not Anambra State.

5.The Community and Social Development Project (P090644):

This project became effective in February 2009.
The World Bank's project completion report identifies the Federal Government of Nigeria as the borrower of the original IDA financing. The original commitment was SDR 121.5 million (US$200 million equivalent).
Anambra was just one of the participating states.

6:The Nigeria Erosion and Watershed Management Project (NEWMAP):

This project was approved by the World Bank in May 2012 and became effective in September 2013.

The original financing agreement was between the International Development Association (IDA) and the Federal Republic of Nigeria, for US$600 million.

Anambra was one of the participating states and had its own State Project Management Unit (SPMU) implementing the project.

Anambra's project documents explicitly refer to the funds as part of the Federal Government's IDA credit. A 2014 procurement notice says the Federal Government had received the credit.

VERDICT: FG was the borrower not Anambra State Government.

7. The Value Chain Development Programme (VCDP):

Records shows VCDP was approved by IFAD in April 2012, not 2013.
The financing agreement was between the Federal Government of Nigeria (FGN) and IFAD, signed in August 2012.
The programme became effective in October 2013.

The original programme covered Anambra, Benue, Ebonyi, Niger, Ogun and Taraba.
The original financing included an IFAD loan of US$74.4 million, an IFAD grant of US$0.5 million, plus counterpart contributions from the Federal Government, participating states, LGAs and beneficiaries.

IFAD's documentation specifically describes the loan agreement as being between FGN and IFAD.

VERDICT: FG was the borrower not Anambra State Government.

OVERALL VERDICT:

All the project listed by the Soludo led Anambra State claiming that it was financed by loan independently taken by Anambra State Government under Mr. Peter Obi are 100% false and misleading. Verifiable World Bank records shows FG was indeed the borrower while Anambra State under Obi participated and benefited just like some other states.

#Copied

Op add some links to this.
The so called apology we have as a governor has demonstrated that not everyone who attended school is sound in reasoning. Some are educated illiterates.

I’m just patiently waiting for Peter Obi to bring out documents to show who’s saying the truth or not.

Thanks to his excellence gov soludo for exposing the pandora fraud yansh.

Everyone, even his brothers knows obi is a fraudulent character.

But because of tribal sentiment, they are blind to his atrocious activities.

If FG was the borrower how come Anambra is the one paying the loans back

Soludo is only playing politics with figures and semantics, and that will end up favouring Obi

A good fact is that Peter Obi is always open to accountability. So let the facts speaks for themselves. Let him personally give an account of all that happened with facts from his end.

Absolutely! It's a brilliant argument for why Soludo is the winner.

Peter obi was a disgrace to good governernce as governor of small anambra state

And your Druggie that's embarrassing our dear county internationally should remain in the contest?

If only we weren't in same county I wouldn't have bothered about what your Druggie does with Nigeria,but.......


It is what is is.






UNAM IKOT

HacheNoire:
Peter needs to opt out of the race as promised!

He left debt despite achieving nothing!

Some minions try to applaud him for saving, but how can a state grow when massive investment in infrastructure and human development is excluded.

Obiano had an airport to his name even though it was a white elephant project to siphon the state treasury. He still had land mark project after that which I applauded!

What did Peter do with all Anambra state IGR and FG allocation for 8 years?

Buy shares in bank he was heavily invested in, and use state funds to prop it up, only to dump on the state he was governing. He knew Anambra people had less than average IQ and why they still applauded him despite stabbing the state treasury.

Peter cannot hide from facts! He should opt out of the race as promised

yarimo:
Peter obi was a disgrace to good governernce as governor of small anambra state

Shut up and stop talking nonsense. You are a kid with poor knowledge of political history