From George Onyejiuwa, Owerri
peoples Democratic Party (PDP) and the All Progressives Grand Alliance (APGA) in Imo State have berated the House of Assembly for approving N9 billion loan request to Governor Hope Uzodimma.
They accused the lawmakers of assisting Governor Uzodimma to mortgage the future of the state through debts accumulation.
The lawmakers had, during plenary session on Tuesday, approved the N9 billion loan request.
Speaker Paul Emezim said the lawmakers gave approval on the condition that the government will discount the 13 percent derivative fund accruable to the state from the excess crude account from Fidelity Bank plc. He said the interest rate for the facility would be seven percent per annum.
According to him, the loan is payable in 36 months.
The loan request approval was the only item the lawmakers attended to as the speaker quickly adjourned the session till February 17, citing the ongoing All Progressives Congress revalidation exercise.
Reacting to the development, PDP spokesman Ogubundu Nwadike, said the governor was mortgaging the state through accumulation of debts.
Nwadike also accused the lawmakers of helping Governor Uzodimma to borrow the future of the state.
He said the only thing Uzodimma’s is expert on, is in borrowing.
Nwadike also said the state government has been over taxing the residents without any corresponding services.
Also, APGA Caretaker Committee Chairman, John Iwuala, said the latest loan approval was unnecessary.