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With $280m Loan, Amaechi Wants to Enslave Rivers Forever ― PDP

Reports

The Peoples Democratic Party (PDP) Rivers State chapter has raised alarm over Governor Rotimi Amaechi’s penchant for collecting external loans, describing the act as a plot to mortgage the State and enslave its people forever.

PDP pointed out the claim in a statement by the Special Adviser on Media to the State Chairman of the Party, Jerry Needam while reacting to Amaechi’s letter for approval to his loyal members of the State House of Assembly for yet another loan of US$80m and US$200m (both amounting to $280m) from the African Development Bank (ADB) and the World Bank respectively, purportedly for water supply and sanitation projects.

Regretting the far reaching consequences of these loans despite the huge resources of the state from internally generated revenue and federal allocations, Needam said there can’t be any other reason for these incessant loans-taking by an outgoing governor other than to punish the incoming administration and the state in particular.

He called for an account on how US$100m and other loans earlier approved by the lawmaker were utilised.

Condemning this new move as unacceptable and sheer wickedness by a drowning person not wishing to die alone, PDP charged the approving federal ministry of finance, the state lawmakers, ADB and World Bank not to honour the loan requests so as not to be held responsible by posterity as one of those that wreaked avoidable havoc on the state.

“Whether the loans have short or long term repayment conditions, it’s immaterial at this point, for any society that lives on loans has no future and can never develop its own potentials,” Needam said.

“It’s unfortunate this is all Amaechi can wish a highly prosperous state like Rivers State, the natural seat of oil and gas, a natural resource that has made havens of the nations that have it.”

The PDP suggested in the statement that the $280m loan, which has a 22 year repayment period, could be used to fund Governor Amaechi’s 2015 election and the APC activities.

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2026-04-21

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