$22bn Loan: Rep Nwawuba Fumes Over S’East Exclusion
A member of the House of Representatives, representing Mbaitoli-Ikeduru Federal Constituency, Henry Nwawuba, has condemned the approval of $22.7 billion loan request submitted to the National Assembly by President Muhammadu Buhari.
The member stated that despite agitations by South East lawmakers over the exclusion of the zone in the loan utilisation plan, the lower chamber went on to grant approval.
Nwawuba had in March, moved against the passage of the loan request through a petition from the South East Elite, pinpointing the deliberate exclusion of the South East in the distribution of key infrastructural projects to be funded with the $22.7 billion loan.
Nwawuba called for a review of the spending plan to accommodate projects from the South East.
“It is regrettable, and very undemocratic, to note that the loan request got the approval of the National Assembly without the South East which contributes substantially to the GDP and revenue earnings of the federation.