A’Ibom lawmakers approves N150bn loan to Udom

From Joe Effiong, Uyo

Despite the uproar generated by the sudden request for approval of a supplementary appropriation by Governor Udom Emmanuel, members of Akwa Ibom House of Assembly during plenary on Monday fell over themselves to approve a loan request of N150 billion to the governor.

The thinking was that having attracted massive public condemnation following the accelerated approval given the N45 billion supplementary appropriation, more than 90 per cent of it going for recurrent expenditure, the Assembly would tarry a while to really scrutinise the new loan request and possibly reject it.

But the public was taken aback by the encomiastic verbalisations of House members in their tortuous effort to justify the approval of the loan request.

The legislative comedy began with the leader of the House, Udo Kierian Akpan, justifying the approval of the loan: “The instrument the governor is asking for is not a loan. He has what it takes to create the money in the money market. When I read the news in the media, I approached the governor and asked him. He told me that he is not taking any loan. He told me, I swear to God, I am not taking a loan, what I am going to do is to create the money.”

“He is a banker. He knows how to create money from banks. He knows how to get financial instruments sorted out. Having said that he is not taking a loan, I believe we should allow him to raise the money,” Akpan said.

Former speaker of the House, Aniekan Uko, said the explanation from the governor was clear on where he is going to get the  money and the projects it would be used to address.

Deputy leader and chairman House Committee on Information, Mr Aniefiok Dennis said having listened to the explanation made by the Leader of the House, Udo Kieran on the need  to approve the request,  he was in total support to allow the governor access the funds.

Obong Godwin Ekpo representing Ibiono Ibom State Constituency also supported the governor’s request for the funds.