Why I Collected N30bn Loan – Gov. Wike shares reasons

Governor Nyesom Wike of Rivers State has said that he decided to take loans after he assumed office in order to pay backlog of salaries owed workers and complete some abandoned projects in the state.

He pointed out that it would have been difficult for his administration to pay contractors if he had waited for the next federal allocation.

He explained that since he met an empty treasury on the assumption of office as the state governor in May, the loans helped him to kick-start the new administration with contractors mobilized back to project sites.

Stressing that every loan taken by his government was tied to specific projects with verifiable and workable repayment plan, Wike stated that the issue of unpaid pensions, overseas students’ allowances had been resolved.

The governor was reacting to criticism by the All Progressives Congress that his administration took N30bn loan in 30 days.

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He noted that there wouldn’t have been any need for the loans if the immediate past APC administration in the state had been prudent in the management of the state’s resources. Wike, who spoke through his Special Adviser on Media and Publicity, Opunabo Inko-Tariah, said, “Rotimi Amaechi in one of his valedictory speeches admitted that the state is broke and he is bequeathing an empty treasury to Governor Wike.

“We inherited an empty treasury festered by huge pecuniary liabilities such as backlog of salaries, pensions, fees for students on scholarships and a plethora of other burning issues, including abandoned projects. “Therefore, there is nothing wrong with the governor going for loans; the issue is not whether loans are taken, but the judicious application of such loans is what should be the issue”.

He added that the APC was paranoid by the fact that he was performing creditably to the admiration and satisfaction of the people of Rivers.



  1. 30 billions within 100 days ? By the time you spent 1 year what would be the magnitudes of the indebtedness of the state. Softly Softly oga wike.

  2. This clearly shows how bad a manager Wike is, and a glimpse of what he did in the Ministry of Education. You borrowed #30bn within 30 days so that contractors wil go back to site and to pay oversea scholarship. What a very poor leadership trait.
    Mr. Wike, you have 1,460 days to govern Rivers state. A good leader will use the first 30 days to go through the papers and get himself familiarized with the activities of the various ministry, even look into the said abandoned contracts and oversea scholarship while waiting for the next allocation that you know is coming within 30 days. Instead you rushed to collect 30bn from the bank, because you already have that grabbing mentality from the federal, and you thought you are competing with anyone. Too bad Mr. Man.

  3. Governor Nyeso Wike has shown APC what good governance means. He has practically shamed his APC detractors with his laudable performance within 100 days in office. Why would he not borrow to run the state when APC then governor Amechi looted the treasury with impunity and left not even one kobo in the coffers before shamefully leaving office?

  4. That was how they were confusing Jonathan, making him think he was working with his “transformation agenda”. I am sure Jonathan will be wondering how he got it wrong for 6 years when he sees how Buhari is governing practically and transparently

  5. How long will it take all anti Jonathan Nigerians to accept the fact that Jonathan was president for 5 and not 6years? May 6th 2010 to may 29th 2015. The propaganda that he spent 6years doing nothing was started by the then opposition but now the ruling Apc. This continuous acceptance of this false calculation shows how mentally lazy many Nigerians are. A simple search on google will reveal the date and year the late president Yar’adua died and when Jonathan was sworn in. As for Governor wike taking loans of N30bn to kick start governance in rivers state, it shows how bad the state finances were under Rotimi Amechi and a big smear on the Apc anti corruption posturing if Amechi is still gallivanting in their midst and is accorded any recognition or respect. The world is watching how Amechi, Fashola and Kwankwaso cases will be handled by the Apc led federal Government.

  6. One would think that this man can at least for once be honest in his life, he should please name where and when the valedictory session was held where Rotimi Amaechi said he handed over an empty treasury, thank God the election tribunal testimonies have began unraveling the electoral fraud that got him there.The truth shall always prevail. Mr Wike.

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