PDP Belly-Aching Over Loan

Crisis – ridden Edo State chapter of the People’s Democratic Party, PDP, has been jittery and belly- aching over the jumbo loan of $75million (#14.7) granted the Edo State Government by the World Bank. As much as it tried, using its members in the national assembly to shoot down the loan request, it failed as the presidential request made on behalf of the state was given the nod in what some mischief makers described as “record time”. Yes, record time because Edo State government had made judicious use of the first tranche to the utmost satisfaction of the World Bank, the Debt Management Office, DMO, Ministry of Finance and of course, the Senate and House Committees on foreign and local debts. So, both chambers in plenary had no problem granting the request “in record time” against the expectations of the PDP. Aside this, both committees praised Edo State Government to high heavens in their separate presentations to members. They eulogised the high fiscal discipline of the state government in the utilization of the first tranche of $75million (#14.7billion) which they said has boosted the economy of the state. especially in terms of investments, employment and infrastructural development. In fact, in his contribution, leader of the Senate, Alli Ndume urged other states of the federation to emulate Edo State by seeking World Bank loan facility to grow their local economy instead of going for local banks with the attendant high interest rates.
Funny enough, the PDP in Edo State has temporarily suspended its infighting over the sack or otherwise of the state chairman, Dan Orbih and his executive, they have united over a common enemy for obtaining an innocuous loan facility to grow the local economy and better the lot of the people in the long run. The PDP, now in tatters, has been busy in the last one week belly-aching and using all manner of hack writers to incite the people against the state government. But Edo people are more reasonable, they cannot be deceived any more, the ignoble years of near total collapse of infrastructure in the state, otherwise referred to as the years of locusts of the PDP in the state cannot be forgotten easily. So, no amount of propaganda can turn the hearts of the people against the people-centred APC government in the state.
Some of these PDP chieftains go to the ridiculous extent of attacking the person of the state governor, Comrade Adams Oshiomhole impugning on his private life. One had expected these antagonists to be matured enough at their criticisms as to draw a line between the governor and his private life. Senator Matthew Urhoghide, who is still basking in the euphoria of his long sought victory at the polls, threw caution to the winds and told his colleagues at the upper chamber that he received over 2,000 text messages from his constituency, asking him to oppose the loan request. As if that was not laughable enough, the pharmacist turned politicians said Edo State ranks fourth among the highly indebted states in Nigeria, adding that there was nothing on ground to show for the first tranche of the loan received. The high recommendations on the state’s fiscal descipline by credible bodies like the World Bank Country Office in Nigeria, the DMO and the Ministry Of Finance have put a lie to the imaginary figures being bandied by Urhoghide and that must have also informed the president’s backing for the loan request. Nigerians and indeed the world know that President Mohammadu Buhari remains committed to his anti- corruption crusade and he is a man not given to frivolities and sentiments. So, the PDP dirty campaigns that the president’s approval of the loan tantamount to sacrificing the interest of Edo people on the alter of party patronage was nothing but utter nonsense! The PDP job men have been trying shamelessly to do an armchair comparison of the federal allocations to the state and the 18 local governments in the last seven years of the APC government in the state and what the PDP government received in eight years under Lucky Igbinedion from 1999 to 2007. Yes, i said shameless, because there was no basis for comparison between the hyper active, prudent, fiscal disciplined and people-oriented government of the APC and the clueless and locust years of the PDP for which the people of Edo have vowed that never again will it happen in the state.
The ignoble government of the PDP had no debt overhang because it was not credible enough to be granted any form of loan by credible organizations like the World Bank. A state or an organisation, even an individual is granted loan facility based on the ability to pay back. In fact, loan or any form of grant is a function of a strong economic base with a verifiable ability to pay back within the agreeable period. The APC government in the state is credible and the local economy is strong, these have earned it the confidence of the lending institutions. Hence, its ability to attract loans for developmental purposes in the state. So, it was not surprising that the PDP government under Lucky Igbenedion left Edo State in tatters, near collapse state of infrastructure, an embarrassing IGP of less than 250 million monthly and a government reputed for its profligacy. Yet, the PDP is quick to tell the world that the state’s IGR has “stagnated”. Stagnated at what figure? This is a government that has boosted the state’s monthly IGR from a criminally low level of less than 250 million naira to a whooping 2billion Naira.
Despite all these, the state governor is undeterred in his determination to leave Edo State better than the sorry state he met it in year 2008. No amount of blackmail and arm twisting will can stop wheel as Edo remains work in progress.