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Ikpeazu: I will not spend N1b CBN Agric loan on frivolities

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Ikpeazu assures he will not spend N1b CBN Agric loan on frivolities

The Governor of Abia State, Dr. Okezie Ikpeazu, has promised not to use the N1 billion (One Billion Naira) Commercial Agricultural Credit Scheme loan which the state recently obtained from the Central Bank of Nigeria (CBN) on frivolities.

Speaking at Umuahia South and Isiala Ngwa North local government headquarters, he promised to make judicious disbursement of the money for the development of the state.

The governor, according to a statement issued on Saturday by his Chief Press Secretary, Emmanuel Enyinnaya Appolos, gave the assurance while rendering his one year stewardship in the state to the people of Abia Central Senatorial District, as part of the ongoing town hall meetings in the state.

The ongoing town hall interactive meeting was previously held at Ohafia and Isiukwuato LGAs for Abia North Senatorial district of the state. 

Abia South district meeting is next on the program aimed at rendering the governor’s stewardship in the past one year to the people as well as get direct feedback from them. 

He decried the declining federal allocations to the state, but assured that his government will ensure that the current economic crisis will not affect his infrastructural development program and payment of workers’ salaries in the state.

Ikpeazu however told the people of the state that he should not be pitied over the harsh economic situation.

He stressed that he believes God has reasons for whatever circumstance He (God) allows.

The governor said, “I want you to understand that we are in tough times in the state. 

“I am sure you’re aware of the economic hard times in the country that has occasioned the drastic drop in our monthly allocation to as low as N1.7 billion.

“Out monthly allocation as at today cannot support payment of workers’ salaries, not to talk of executing other projects. 

“This has also impacted on our IGR as a state.

“Don’t pity me because of the tough times. I know that my God is able to handle the situation. 

“But let me assure you that amidst this obvious challenge, our government will continue to improve on our infrastructure and also pay salaries as we can.

“But I ask for your understanding and support in this hard time.

“We do not have any other option than to improve the infrastructure in the state, especially at Aba, the commercial-hub, to motivate people to pay taxes thereby improving the internally-generated revenue of the state.

“Let me also reassure you of my promise, as your Governor, not to misappropriate the confidence you bestowed on me.

“Let me inform you that we have received N1b agricultural loan from the CBN. 

“This loan, I assure you, will be judiciously distributed to genuine farmers amongst us. 

“I know our farmers, and let me inform political farmers whose farms are on the internet not to bother coming because this loan is not for you.”

Governor Ikpeazu enumerated some of the achievements of his government  in road infrastructure improvement and other strategic sectors of the economy within the period of one year.

He further assured that the free school meal program will be sustained for the benefit of Abia school children and their parents.

According to him, food stores have been opened in the three Senatorial Districts of the state, and will later be opened in all Local Government Areas for the sustenance of the free school meal program which his Govt is implementing with massive support from the private sector.

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