Governor Wike gets new N12bn loan approval by Rivers Lawmakers

According to reports, the Rivers State House of Assembly has again given its approval to Governor Nyesom Wike to borrow money. This time, the House approved two tranches of loans to the tune of twelve billion naira from the Central Bank of Nigeria.

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The ten billion naira is meant for the Sakpenwa-Bori road project and the Tam David-West airport road. The remaining two billion naira was approved for the Rivers State micro-finance for small and medium businesses.

The Speaker of the House, Dobotorudima Adams, read a letter from the Governor seeking approval of the loan when the Assembly resumed plenary, Friday.

In a debate that followed the reading of the Executive Correspondence, members of the State House voted in favour of the loan. The House also held a valedictory session in honour of a deceased former member, Monday Eleanya.

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5 Comments

  1. Wike will bankrupt Rivers State in his mad rush to develop only the upland of the State. According to them the old the Ijaw city states especially Kalabari are better developed than the upland so the entire allocation from central government as well as internally generated revenue go into building a new ‘Port Harcourt’ at the suburb so that in the event that the Ijaw segment into an Oil Rivers State, the hinterland Rivers people will have something to fall back on since Port Harcourt Township is Ijaw. They think people are stupid.

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