An activist group, Save Adamawa Movement (SAM), has raised an alarm concerning a N20 billion loan the Murtala Nyako led Adamawa state government intends to borrow from the Islamic Development Bank (ISD).
A member of the group, Albert Stephen, while speaking on Sunrise Daily, alleged that the government’s intention for applying for the loan is based on selfish interests as Nyako’s administration is for lnly ‘family and friends.’
The Debt Management Office (DMO) has rated the state as number six on the list of states that should desist from taking loans as their debt profile is high and “based on that we felt there was no need to be indebted,” Mr Stephen stated.
Although the Adamawa House of Assembly has passed a law which allows the Governor to procure the N20 billion loan, the SAM has stated its disapproval adding that “they do not mean well for the people”.
Mr Stephen described the law as ‘anti-people’.
He further stated that since Nyako came into power in 2007, no single project has been commissioned inspite of the monies collected from various sources including the Federation Account which have not yielded significant results.
He also accused the representatives of not serving the people’s interests as he allaged that the governor promised the House about N1.5 billion of the entire loan.
This means each member would be given about 60 million for supposed constituency projects, he alleged.
Some months ago, Nyako commissioned a housing unit for civil servants; but Mr Stephen said the project was initiated by former state governor, Boni Haruna.
He alleged that several projects the state now boasts of were initiated by Boni and were only left for Nyako to commission.
The loan to be granted by the ISD is interest free but Mr Stephen said this is not the issue but that there is no guarantee that the money would be put to good use.
