By Jennifer John
The Imo State government is now seeking 10bn naira loan from Access Bank repayable in 12 months to enable it fund the dualization of the Owerri-Okigwe, Owerri-Orlu roads.
Rising from the regular Executive Council Meeting on Wednesday, May 5, 2021, presided over by Governor Hope Uzodimma, the government said it had approved the constitution, immediate funding and take-off of Imo State Transport Management Agency (ISTMA).
This is sequel to the earlier decision to convert 250 personnel of former Imo State Civil Guard for the take-off of the Imo State Transport Management Agency.
Briefing newsmen after the Executive Council meeting, the Imo State Commissioner for Information and Strategy, Chief Declan Emelumba also explained that government had approached Access Bank Plc for a N10 billion loan payable in 12 months from the Imo State Internally Generated Revenue (IGR) so as to continue with the funding of the ongoing construction of Owerri/Okigwe and Owerri/Orlu roads valued at N55 billion.
The Commissioner also said that the loan, when obtained, will be paid directly to Craneburg Construction Company that is handling the dualization of the two major roads for Imo State.