Anambra State Governor, Professor Chukwuma Soludo, has stated that the state government will not borrow funds to finance its budget. Speaking at the 33rd anniversary celebration of Anambra State, Governor Soludo dismissed reports that the state planned to borrow N245 billion for the 2024 budget as false.
Governor Soludo emphasized that the administration has a stringent policy on borrowing, stating that they are working on projects and programs that are bankable and insists on borrowing only for projects that have a high probability of generating returns to repay the debt.
He added that despite a budget deficit of N121 billion for 2024, the state has not borrowed any money.
He also highlighted that Anambra was not included in the recent World Bank loan of N438 billion to states, as the government deliberately chose not to participate. He maintained his commitment to maintaining fiscal responsibility and ensuring that any borrowing is strictly for projects that will generate sufficient revenue to cover the debt.
