Opposition Drums Support For N250bn Bond Bid

The Congress for  Progressive Change (CPC)  in Rivers, has thrown its support behind  the N250 billion proposed bond by Governor Chibuike Amaechi, even as the party faulted the Action Congress of Nigeria (ACN) criticism  not in the interest of the good people of the state.

The party observed that the bond will ne  vehicle for infrastructural development in the state.

The state Chairman of CPC, Mr. Mike Nwieleghi, said  the party does not have any problem with the bond proposal  and urged  the government  to go ahead with the bond plan.

He  noted that the primary function of government is to provide  essential services delivery that will bring about development, thus justifying  tax  payers’ money and other revenue that  accrue to it.

He reasoned  that the idea of government is not to punish the people, rather to provide  essential service delivery in most critical sector  of the economy for the good governance of the state.

According to him, if the Rivers State House of  Assembly approves the bond for the critical sector of the state economy it as well and good, as long as the money is judiciously managed.

The state CPC Chairman,  however, said that the State Government can be called to account  if the bond being obtained is not properly channeled to the purpose for which it was  obtained from the capital market.

Nwieleghi said the bond is a welcome development saying, “the explanation so far from the government was for the good of Rivers  people’” since, he said, the bond was to enable the government  complete on-going projects, maintenance  of educational institutions and health.

It will be  recalled that the Action Congress of Nigeria (ACN)  in Rivers State had observed that the bond and numerous  loans would leave the state in perpetual penury, insisting that government was a continuous process, hence the fear if the present administration could not repay the N250 billion bond before the expiration of its tenure.