In a recent announcement, Okezie Ikpeazu, the former Governor of Abia State, revealed that the African Development Bank (AfDB) has granted final approval for a $115 million loan. The funds are designated for road construction, erosion control, and solid waste management projects in the state.
Speaking through his Chief Press Secretary, Onyebuchi Ememanka, Ikpeazu stated that these loans were initiated and achieved during his tenure and are intended for use by the subsequent administration. The loan will be utilized to construct 190.43km of roads in Aba and 58.03km of roads in Umuahia, the state capital. Additionally, erosion control initiatives and solid waste management projects will also be executed using the allocated funds.
Expressing his gratitude, Ikpeazu acknowledged that the loan had successfully passed its final approval hurdle and thanked God for this progress. He revealed that the total cost of the projects is estimated at $263.80 million, with the Abia State Government providing $23.80 million as counterpart funds. These funds will be used for compensating individuals affected by the projects and implementing settlement action plans.
While celebrating the loan approval, Ikpeazu, however, accused politicians of attempting to derail the loan by allegedly writing to the National Assembly. He criticized their actions, describing them as unpatriotic. Nonetheless, he expressed contentment that the loan has become a reality.
Ikpeazu also acknowledged the contributions of officials from his administration who played vital roles in securing the loan. He emphasized that he anticipated the final approval to come after his tenure ended and believed that the subsequent administration should implement the loan for the benefit of the people of Abia State.
Highlighting the dedication of his administration, Ikpeazu revealed that work on the Port Harcourt road in Aba had already commenced before the loan was received. Securing this loan had been one of his most cherished objectives as Governor, he added. Despite the loan approval occurring after his departure from office, Ikpeazu expressed no regrets and urged the present administration to effectively utilize the funds.
While Governor Ikpeazu claims that the AfDB loan has been approved, the state government is yet to confirm this information.
