By: Felix Ikpotor
Rivers State House of Assembly, RVHA, Monday, gave the state governor, Nyesom Wike, approval to borrow another nine billion naira from Zenith Bank. The approval followed a letter transmitted to it by the governor seeking the approval of the house to enable him borrow the sum to fund capital projects in the state.
Wike in the letter said he has rehabilitated schools, hospitals and other projects in the state, adding that he needs the money to continue to do more. The governor explained that the loan is tied to the state’s earning from its holdings in INDORAMA PLC and Eleme Petrochemical Company.
Leader of the assembly, Martins Amaewhule while debating on the request said the request is to assist the government in carrying out capital projects captured in the 2016 budget. He also expressed satisfaction with the mode of repayment.
In his debate, lawmaker representing Ogu/Bolo, Evans Bipi noted that the dwindling revenue from the federation account to the state is not enough to even take care of salaries and urged that it be granted. Other lawmakers such Edison Ehie of Ahoada East Constituency II and Christian Ahiakwo of Ogba/ Egbema/ Ndoni Constituency 1 all spoke in favour of the request.
While granting the loan request, the speaker, Dabotorudima Adams said the assembly would continue to support the state governor to effect development in the state.
