Abia State governorship candidate of the Labour Party (LP), Dr. Alex Otti, yesterday, disclosed why he opposed and stopped the state government’s application and quest for a $200 million loan from the African Development Bank ..
Abia State governorship candidate of the Labour Party , Dr. Alex Otti, yesterday, disclosed why he opposed and stopped the state government’s application and quest for a $200 million loan from the African Development Bank in 2015 despite that the then National Assembly reportedly approved it.
Otti alleged that, in seeking the loan, the state government falsified documents, and did not seek approval of the then state House of Assembly. He added that the state lacked capacity to repay the loan considering it had other outstanding unpaid debts. Asked if he was against governments applying for and securing loans, including foreign ones, Otti said that if elected governor he might seek loans when the need arises, noting that such loans will be used for the purpose it is secured for, and not diverted or misappropriated.
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