₦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.

Mudi Mudi ✍️"

If you look at the above data you will observed the approval mostly took place during Obi time but money were mostly not disbursed until after Obi tenure and few during Obi came when his tenure was about to over and not executed.

It should be noted Obi left office March 17, 2014, and most money has not be disbursed before leaving office.

More importantly, from further research, the loan the Federal Government borrowed was not even available while Obi was in office except the ecological fund which came during end of Obi tenure and not executed for the project.

The money was only earmarked and approved during Obi's tenure. The ecological fund portion came in when Obi was almost leaving office, and he deliberately did not spend it because government is a continuum. In fact, most of the funds did not arrive until after he had left office, but they were still credited to his era.

The bulk of the money actually came in during Obiano's time, and Soludo is wittingly misleading the public.

https://www.facebook.com/share/p/1cNxh1dhUX/

Una really get time o. What a way to waste time

Wealthyonos:
Una really get time o. What a way to waste time

how is this a waste of time kind human ?

They will write their rubbish confidently.

So this one is claiming he knows better than those who are in government..

The Obidients have been the weapons fashioned against Peter Obi presidential ambition as they refused to call him out when he glaringly messed up

Is it today Peter Obi has been lying ridiculously about almost everything?

Chibuezem:
how is this a waste of time kind human ?

It's a pure waste of time to read as the guy wrote purely rubbish. Is he claiming he knows more than a sitting governor? So Gov Soludo is not aware about state and FG loans?

I had to look at the source first. The moment i saw Facebook, i didn't read because i know it will be rubbish.

So-"loooter" is a cornfused economic professor. No need listening to such people.

Stop disgracing yourself. Check DMO website. It doesnt state who facilitated a loan (FG or state is immaterial). It states loan position based on drawdown (actual loans). Check 2007 vs 2014 for Anambra. You wont need any explanation. It is an open information. I did that since 2022 and confirmed PO lied.
Operationally, the state govt. has info about liabilities beyond actual borrowings and they said they'll release more details if pushed further.
Zero loan is not an index of good performance whether by economic or development theory. So why are you fixated on this lie gan? Just move on!

Buccalcavity2:
Stop disgracing yourself. Check DMO website. It doesnt state who facilitated a loan (FG or state is immaterial). It states loan position based on drawdown (actual loans). Check 2007 vs 2014 for Anambra. You wont need any explanation. It is an open information. I did that since 2022 and confirmed PO lied.
Operationally, the state govt. has info about liabilities beyond actual borrowings and they said they'll release more details if pushed further.
Zero loan is not an index of good performance whether by economic or development theory. So why are you fixated on this lie gan? Just move on!

PO ‘lied’ about what exactly!? This obsession with Peter Obi, a man you claimed not only ‘lost’ the last election but came 3rd’, is bordering on insanity! If you could devote a fraction of the time you spend obsessing about Peter Obi to look into the goings-on in and around the circus of clowns that is the Tinubu gov’t….then look into his spurious and ever-changi academic records, then maybe we can all get somewhere as a country! I think it’s YOU that needs to move on!

IGBOPROMISE1:
PO ‘lied’ about what exactly!? This obsession with Peter Obi, a man you claimed not only ‘lost’ the last election but came 3rd’, is bordering on insanity! If you could devote a fraction of the time you spend obsessing about Peter Obi to look into the goings-on in and around the circus of clowns that is the Tinubu gov’t….then look into his spurious and ever-changi academic records, then maybe we can all get somewhere as a country! I think it’s YOU that needs to move on!

Ask yourself how many times they've quoted Sowore and AA for lying? Your PO is the problem not fact checkers! He asked for it!
You see, the tragedy was not that he lied but that he lied about an unnecessary thing. Which shows that he thought zero loan is an achievement to brag. Akin to a thief that stole what he doesnt really need and yet was caught.
"Show me one person that I owe, I will stop my campaign". "I paid off all liabilities and left cash in coffers for succeeding govt.". Low, pedestrian thinking.

Wealthyonos:
Una really get time o. What a way to waste time

But you get time to read and believed the one posted by Anambra government,

Obi collected loan for malaria

Left mental health of those at Onitsha Bridge and was collecting money for treating malaria.

Obi saw nothing wrong with insanity probably because he is also insane.

edogu:
"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.

Mudi Mudi ✍️"

If you look at the above data you will observed the approval mostly took place during Obi time but money were mostly not disbursed until after Obi tenure and few during Obi came when his tenure was about to over and not executed.

It should be noted Obi left office March 17, 2014, and most money has not be disbursed before leaving office.

More importantly, from further research, the loan the Federal Government borrowed was not even available while Obi was in office except the ecological fund which came during end of Obi tenure and not executed for the project.

The money was only earmarked and approved during Obi's tenure. The ecological fund portion came in when Obi was almost leaving office, and he deliberately did not spend it because government is a continuum. In fact, most of the funds did not arrive until after he had left office, but they were still credited to his era.

The bulk of the money actually came in during Obiano's time, and Soludo is wittingly misleading the public.

https://www.facebook.com/share/p/1cNxh1dhUX/

This one no do social studies or civic education for school? Nigeria is a FEDERATION na. When it comes to things like international borrowing and sovereign financial obligations, it'll most likely involve your FG. FG acts as your guarantor, for federal guarantee, or as a formal international financing obligation.
That's why they help facilitate your loan, pay back your debt and deduct it from FAAC.
If you don't want loan, you opt out like the other states that did, not all the dubious mago mago, claiming you don't owe while FG, DMO, and your state government are deducting your loan monthly.

Chibuezem:
how is this a waste of time kind human ?

I swear you don't have work.
You're doing research to defend your fellow human being and a politician at that without getting paid.
The person that enjoyed the money self have not defended himself.
Una mumu no too much

You investigated as who? Can we see your qualifications in finance and auditing? All these spare parts traders in Onitsha sef

Wickedfacts:
Obi collected loan for malaria

Left mental health of those at Onitsha Bridge and was collecting money for treating malaria.

Obi saw nothing wrong with insanity probably because he is also insane.

Why do guys love lies so much .
These are FG external borrowings which Anambra state like many other states mentioned benefitted from, why are you people and Soludo making it look like Peter Obi went to the federal government to help him get loan for projects in Anambra. Why??
And ofcourse Anambra state has a fiscal obligation for those monies to be deducted because they benefitted but why the misinformation?

This is how obidient lie like lunatics.

You claimed FG borrowed all the money but Anambra State is the one repaying the loan FG collected ?! Make it make sense. Now anyone with functional brain is it possible for the Federal Government to borrow money and Anambra State will be the one to pay it off if Anambra state is not a party to the borrowing or loan arrangements.

Suddenly FG backed borrowing is no longer State loan because the FG backed it repayment. Which simply translate to such loan repayment being backed up with FG guarantee to deduct n remit the due loan from FAAC to the World Bank who is the lender.

Suddenly tales now arose that loans were not disbursed as at a certain period like this fools do not know loan disbursement is done at the discretion of the borrower.

Suddenly people brain goes numb to understand Anambra state does not have to participate if Obi simply told the FG it does not want to be a party to the loan arrangements.

Can you see how these fools are labouring helter skelter to defend the failure Peter Obi as if loan document pertaining to all this was not signed by his government. They are shouting the Federal Government borrowed the loan like it was Tinubu that borrowed it.

They did not tell you the Federal Government they are shouting about as the borrower here is either Federsl Government of Obasanjo Yardua or Ebele.


If you like no use your head to understand this Peter Obi is dead as criminal using Nnamdi Kanu propaganda machinery to hoodwink the gullibles in his region because those are who he can fool not those of us in West or North.

edogu:
"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.

Mudi Mudi ✍️"

If you look at the above data you will observed the approval mostly took place during Obi time but money were mostly not disbursed until after Obi tenure and few during Obi came when his tenure was about to over and not executed.

It should be noted Obi left office March 17, 2014, and most money has not be disbursed before leaving office.

More importantly, from further research, the loan the Federal Government borrowed was not even available while Obi was in office except the ecological fund which came during end of Obi tenure and not executed for the project.

The money was only earmarked and approved during Obi's tenure. The ecological fund portion came in when Obi was almost leaving office, and he deliberately did not spend it because government is a continuum. In fact, most of the funds did not arrive until after he had left office, but they were still credited to his era.

The bulk of the money actually came in during Obiano's time, and Soludo is wittingly misleading the public.

https://www.facebook.com/share/p/1cNxh1dhUX/

benuejosh:
I had to look at the source first. The moment i saw Facebook, i didn't read because i know it will be rubbish.

If it further exposed Peter Obi as a liar and thief, you wouldn’t bother checking the source; you would have simply run with it. But because it exposes the lies, falsehoods, and misinformation being peddled by Soludo, you suddenly care about the source.

Soludo has spent almost six years as governor blaming Peter Obi for his failures, when, in reality, Peter Obi did not hand over directly to him. Obiano handed over to Soludo after spending eight years as governor.

At some point, we need to separate facts from political narratives.

This your blind article can only make sense to people who does not understand how such loan works.
Even if the FG is the borrower, states who should interest in participating owe the FG and not IDA. It's between the FG and Anambra state.

Chibuezem:
how is this a waste of time kind human ?

All your verdict said FG borrowed the money, not Anambra state
So why is Anambra state paying back loan it didn't take

Trying to be clever by half

helinues:
They will write their rubbish confidently.

So this one is claiming he knows better than those who are in government..

The Obidients have been the weapons fashioned against Peter Obi presidential ambition as they refused to call him out when he glaringly messed up

Is it today Peter Obi has been lying ridiculously about almost everything?

I havnt read what the anambra govt released...I am familiar with most of the projects mentioned above. Some, such as FADAMA, are still functional. These projects are sponsored by the World Bank and the United Nations... they operate directly with the Federal Government.
Most times, the State Project Coordinator reports not to the state government but to a national body. In some cases...the state is required to provide counterpart funding for the projects, but only if there was an agreement to that effect. It is possible that Obi’s administration did not pay counterpart funds.

Therefore, if Soludo’s administration released a list that included these projects as loans incurred by the Obi led government, then Soludo’s government has misled the public.

KINGSODD:
i havnt read what the anambra govt released...I am familiar with most of the projects mentioned above. Some, such as FADAMA, are still functional. These projects are sponsored by the World Bank and the United Nations... they operate directly with the Federal Government.
Therefore, if Soludo’s administration released a list that included these projects as loans incurred by the Obi led government, then Soludo’s government has misled the public.

You haven't read Anambra state concern but you are already reaching conclusion without even knowing the basis of the arguments.

Why

helinues:
You haven't read Anambra state concern but you are already reaching conclusion without even knowing the basis of the arguments.

Why

bro...If the above statement by the OP is referencing Soludo's govt claim...Is clear that these loans are been serviced by the Federal Govt..And most of these projects were for the benefits of the Locals. The state govt usually has no control over how the projects are operated. The only obligation by the state govt is paying out counterpact funds to the Project Co ordinator, any failure of paying counterpact funding mostly leads to the suspension of the project activity rather than being classified as a "DEBT".
I work in a NGO funded by U.N/IFAD similar to the stated projects above and i have an understanding of their financial operations and dealings.

KINGSODD:
bro...If the above statement by the OP is referencing Soludo's govt claim...Is clear that these loans are been serviced by the Federal Govt..And most of these projects were for the benefits of the Locals. The state govt usually has no control over how the projects are operated. The only obligation by the state govt is paying out counterpact funds to the Project Co ordinator, any failure of paying counterpact funding mostly leads to the suspension of the projects rather than being classified as a "DEBT".
I work in a NGO runned by U.N/IFAD similar to the stated projects above and i have an understanding of their financial operations and dealings.

So you are saying both Obiano and Soludo hate Peter Obi so passionately hence coming up with concocted story about him?

How many lies have this same Obi told since after the 2023 which have been bursted?

helinues:
So you are saying both Obiano and Soludo hate Peter Obi so passionately hence coming up with concocted story about him?

How many lies have this same Obi told since after the 2023 which have been bursted?

My argument is based solely on the facts presented in this thread. Any external issues that are not directly related to this Op discussions ...i have no idea about it.

edogu:
"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.

Mudi Mudi ✍️"

If you look at the above data you will observed the approval mostly took place during Obi time but money were mostly not disbursed until after Obi tenure and few during Obi came when his tenure was about to over and not executed.

It should be noted Obi left office March 17, 2014, and most money has not be disbursed before leaving office.

More importantly, from further research, the loan the Federal Government borrowed was not even available while Obi was in office except the ecological fund which came during end of Obi tenure and not executed for the project.

The money was only earmarked and approved during Obi's tenure. The ecological fund portion came in when Obi was almost leaving office, and he deliberately did not spend it because government is a continuum. In fact, most of the funds did not arrive until after he had left office, but they were still credited to his era.

The bulk of the money actually came in during Obiano's time, and Soludo is wittingly misleading the public.

https://www.facebook.com/share/p/1cNxh1dhUX/

Arrant nonsense.

The FG keyed into a World Bank facility to assist countries with high mortality rates from Malaria.

The loan was entered into by the FG and World Bank and states were to benefit directly from this same plan facility but with the FG as the guarantor.

The FG funded its own federal anti malaria program with part of the proceeds from this total amount that was spent through the Federal ministry of Health to purchase anti malaria drugs, mosquito nets to be distributed through FG operated medical centres, teaching hospitals and primary health facilities.

States were asked to key into the program to get part of the money to be funded directly from the loan.

Anambra alongside 6 other states keyed into the project to which they were expected to refund any money disbursed to them via FAAC deductions.

It was a loan to states guaranteed by the FG.

All states intending to get loans will need the FG to back it up since almost all states depend mostly on FG allocations.

KINGSODD:
My argument is based solely on the facts presented in this thread. Any external issues that are not directly related to this Op discussions ...i have no idea about it.

You need to first go and read what the Anambra state government pointed out with facts before arguing this

KINGSODD:
My argument is based solely on the facts presented in this thread. Any external issues that are not directly related to this Op discussions ...i have no idea about it.

Bros leave them.
They know the truth that Obi did not borrow those monies but their problem is that they know that the politicians they are supporting are crooks so they want every other person to appear the same.

benuejosh:
I had to look at the source first. The moment i saw Facebook, i didn't read because i know it will be rubbish.

you were not programmed to read reasonable topics

Of course, the government is presenting the evidence flawlessly!