Ikpeazu Secures $50 Million Loan Facility For The Incoming Administration

The Abia State government has secured a $50 million loan to facilitate the construction of 500 kilometres of roads in the state. Governor Okezie Ikpeazu disclosed to reporters on Thursday in Aba that the fund would be available for use by the incoming administration.

Governor Ikpeazu said his administration was resolute in securing the loan because of his commitment and resolve to leave Abia better than he met it.

The funds had created an avenue for Abia to record massive road construction to boost infrastructural development of the state, the governor asserted. With a repayment period of 20 years with 10 years moratorium, Mr Ikpeazu said his administration had negotiated and perfected the interest rate of the facility to be at 0.006 per cent.

He said that the handover of the reconstructed Faulks Road, Aba, and the remodelled three blocks in A-line of Ariaria International Market by his administration were among the projects he remained grateful to God for. Ikpeazu said that he adopted a multifaceted approach in the development of the state adding that his administration had laid a solid foundation for successive governments to come.

According to him, the Enyimba Economic City project conceptualised by his administration when completed would provide over 600, 000 jobs to the teeming youths, over a 10-year period.

He added that the challenges of leadership were not in conceptualising ideas but in connecting and channelling them into an agenda to create a better life for people of the state. Mr Ikpeazu said that he was pleased with his stewardship, relationship style and disposition to issues, adding that these had facilitated the maintenance of peace and order in Abia.


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