Rivers Excess Crude Savings Hit $63M

Minister of State for Petroleum, Mr Odein Ajumogobia (SAN) (right) in a chat with the Speaker, Rivers State House of Assembly, Rt Hon Tonye Harry during the accountability forum addresed by Governor Amaechi at Alfred Diete Spiff Civic Centre, Port Harcourt, last Monday. Photo: Chris Monyanaga

In a bid to raise the credit potential of the state, the Amaechi administration in Rivers State says it has saved not less than 63million dollars from excess crude allocation. Governor Amaechi made the disclosure on Monday during a public accountability forum to mark his second year in office in Port Harcourt. The governor said the money is in the vaults of Skye Bank of Nigeria and is expected to provide a soft landing for the state considering the economic meltdown. This is aside the compulsory N1billion saving his administration has made since its inception totaling about N17billion as at last month, he said. With the challenges faced by his government in terms of financing on-going projects in the state, the governor declared that about $39million has been expended on the 1,000 bed Justice Karibi Whyte International Specialist Hospital, now under construction in the new Greater Port Harcourt City. Governor Amaechi explained that he inherited about N1.2billion as salaries and allowances owed the state primary and junior secondary school teachers by local government areas, hence his decision to take over the salary payment of the teachers. Saddled with his huge financial bunden, Amaechi asserted that the teachers salaries were raised by 15 per cent in order to improve their welfare, stressing that Rivers teachers are amongst the best paid in the country. Poised to raise the revenue base of the state, Governor Amaechi stated that the computerized salary scheme has saved the state not less than N400million per month thereby reducing corrupt practices experienced in paying civil servants salaries. He, however, stated that his greatest achievement is in the area of education with the building of new primary and secondary schools. By December this year, the Rivers State Governor said about 100 of these schools would be completed, adding , “we also signed a two year contract with some teachers to teach ICT in those schools. Each of the schools are expected to have about 30 desktops with a library”. Following the numerous road projects embarked by his administration, Amaechi said not less than N33billion has so far been expended by his administration on infrastructure. The Rivers State Chief Executive said the rationale behind the infrastructure drive is to reposition the state and provide a conducive environment to drive business and social activities.