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Rejection of $350m loan request political, says el-Rufai

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Rejection of $350m loan request political, says el-Rufai

The Kaduna State Governor, Nasir El-Rufai, yesterday, in Kaduna, disclosed that the rejection of the World Bank loan applied for by the state was a moral burden to those involved. That was as he also alleged that the move was politically motivated.

 

Kaduna State had applied for a loan of $350 million for the development of infrastructure, which was rejected by the Senate on the grounds that the state was already heavily indebted. But speaking while declaring open the 2018 Law Week of the Nigerian Bar Association (NBA), Barnawa branch, Kaduna, El- Rufai said Kaduna met all the conditions for the loan, yet it was rejected by the senate.

 

Represented by his deputy, Barnabas Bala Bantex, the governor alleged that the refusal of the senate to approve the loan request had a political undertone. Speaking further on the issue in an interview with journalists, shortly after declaring the event open, the governor also said the World Bank was faced with a moral issue to grant the loan to other states without Kaduna.

 

“The World Bank are bugged with a moral issue. How do we deal with not approving or not giving out a loan for which a state government is fully qualified and approve to others, That is the moral issue facing the World Bank” he said.

Speaking earlier in his address at the occasion with the theme: “curbing corruption and insecurity in Nigeria: Legal and political perspectives” the governor noted the role of the NBA in the struggle for the improvement of socioeconomic situation of the country.

 

He said insecurity and corruption were the main challenges facing Nigeria and called on the NBA to collaborate with the government to address the menace. “Insecurity and corruption are the major setbacks to any nation. When there is corruption, it ruins the economy and retards development. Insecurity discourages foreign investors. “

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