APGA guber candidate warns Ikepazu against new loan 

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The Abia State governorship candidate under the All Progressive Grand Alliance (APGA), Professor Greg Ibe, has warned Governor Okezie Ikpeazu against going for a fresh bank loan.

Prof. Ibe spoke against the backdrop of an lleged plan by the State Government to borrow N450 million to bail out Abia State Polytechnic Aba following the withdrawal of its accreditation by the National Board for Technical Education (NBTE), over non-payment of over 30 months’ salaries.

Professor Ibe who said he was against the state government taking loan to pay salaries of Abia Poly workers, described the move as ‘digging a hole to fill a hole’.

Citing that it is wrong for the State Government to resort to fresh loan when in fact, it could bail out the institution from its share of the federation allocation.

He accused the State Government of using the move as a cover to borrow more money for “unclear purposes after Abia stakeholders blocked an earlier move to borrow N60 billion.

He said, “Why borrow N450 million when Government can actually bail out the institution if it is sincere?
“Why plunge the state into further debt? Abia already has almost N100 billion debt hanging on its neck. How will the school operate if their debt servicing will take all the revenue collected from School fees?

He noted that “the state keeps receiving allocations from the Federal Government every month and Abians want to know how the funds are spent”.

“If two aides of the Governor can be paid up to N25 million monthly for his media person who is totally redundant and almost a radio station owner, why can’t the State bail out Abia Poly?

“ABSUTH has lost accreditation to admit medical students because the doctors have been on strike for non payment of their salaries for over two years. ABSU lecturers are complaining of salary arrears of over nine months. Where is Abia money going? ” Prof. Ibe questioned.

 

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Queen Ferry
Queen Ferry
Chinyere Treasure Ikechukwu also known as Queen Ferry, is a Nigerian business Executive, social media savvy Journalist and Content Editor with over seven years experience. She serves as the Vice-Chairman of Naijatraffic Limited. If Treasure is not researching/blogging, she will be making delicious delicacy.

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