The Senate yesterday approved a $75 million World Bank loan for Edo State’s Development Policy Operation (DPO) as requested by President Muhammadu Buhari.
The approval followed the consideration of a single-prayer report of the Ad-hoc Committee on Local and Foreign Debt presented by Kabiru Gaya, an APC senator from Kano South.
The committee in its report urged the Senate to approve the loan, saying that the World Bank had already considered the state ready for it.
Adamu Aliero (APC Kebbi Central), in his contributions, said Edo State had qualified for the loan, because the state had met the conditions set by the World Bank, saying the loan would help increase the internally generated revenue of the state and, therefore, urged the Senate to approve it.
He also called on other states that had the capacity to borrow, to go ahead and take such loans, as long as they could utilise such judiciously.
Ali Ndume, Leader of the Senate, while supporting the motion for the approval of the loan, encouraged other states with genuine needs to take advantage of such low interest loans, rather than the patronising commercial banks.
“The first tranche of this borrowing plan had already been approved by the Senate and the World Bank has strict borrowing conditions, which the state has met. I therefore move that we approve this loan,” he said.
However, Matthew Urhoghide, a PDP senator from Edo South, while supporting the approval of the loan, expressed the misgivings of the people of the state about it.
He said on the day the Senate received the letter from the president, he got over 2000 text messages and emails; “out rightly, the people have said that they do not want the loan.’’