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Thursday, October 7, 2010

N20bn bond: Ebonyi Professionals backs Elechi

An association of Ebonyi State professionals resident in Abuja, The Ebonyi Professionals, has thrown its weight behind the bid by the state government to raise N20 billion bond from the capital market. The co-convener of the group, Mr. Magnus Eze, said their support for the bond was informed by the ambitious plan of the government to develop the state in spite of its weak financial base.

He told Daily Sun in an interview that the bond seemed the only way the massive projects initiated by the Governor Martins Elechi- led administration in the state could be completed in the near future.

Eze said if the government did not have alternative source of funding these projects, they would end up as abandoned projects and what ever the government had invested in the project would have gone down the drain.
While urging every citizen of the state to support the bond, he expressed hope that the bond would be judiciously used for its original purpose given the level of prudence and fiscal discipline the State Government had exhibited.

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