Egu enjoins Imo Legislature to Laud Uzodimma on $1.5b bond for development

Vivian Asika
The member representing Ngor-Okpala State Constituency Hon. Obinna Egu has sought the support of his colleagues to commend the State Governor Senator Hope Uzodimma for securing $1.5 billion Investments from AFREXIM Bank for the Infrastructural development of the state.

Egu who made this proposal during the plenary on Tuesday 26th March, 2024 in the Assembly.

Moving the motion, the All Progressives Congress, APC, lawmaker said it was imperative to commend the State Governor for securing the bond because according to him, would stimulate the economy of the state

He said: “as part of the Governor’s developmental blueprint for the state encapsulated under his shared prosperity mantra, has finalized discussion for potential investments, totaling upto $1.5 billion ($1,500,000,000) into the state with a reputable financial institution African Export-Import Bank, known as AFREXIM Bank.”

He pointed out that the initiative would stimulate economic growth, Infrastructural development, and job creation in the state and the south east by extension.

He posited that the anticipated partnership between the state Government and the financial Institution would mark a significant steps towards achieving the Eastern heartland’s long term developmental objectives.

The Speaker, Rt. Hon. Chike Olemgbe who listened to the comments of the Lawmakers as the majority spoke in favour granted the relief as he directed the clerk to transmit the House resolution to the Governor