RVHA Approves N100bn Bond For Govt

The Rivers State House of Assembly has granted approval to the State Government to raise N100 billion bond to enable it complete on-going infrastructural projects in the state.

The approval was sequel to a request by the State Governor, Rt. Hon. Chibuike Amaechi, in a letter read by the Speaker, Rt. Hon. Otelemaba Amachree, to members during a plenary in the temporary House of Assembly in Government House, Port Harcourt.

Though the approval was given, it came after a heated argument among the lawmakers who differed on the issue of whether to invite the state Commissioner for Finance to explain the reason for the bond before or after the approval.

Those who wanted the Commissioner’s appearance before the approval of the bond hinged their argument, amongst others, on the need to inform and intimate Rivers people on how their money was being spent and also give them the opportunity of airing their views before the Assembly gives its approval.

They argued that being representatives of Rivers people, the people needed to be informed of the intricacies of the bond to avoid the Assembly being tagged a rubber-stamp of the executive.

On their part, those who wanted the approval to be done before inviting the Commissioner, argued that given the current political situation in the state and country, and also the fact that 2014 was filled with political activities, including preparations for elections, there was the need to hasten the process to ensure prompt commencement of infrastructural projects currently started in the state.

In addition, they argued that the earlier the projects commenced, the better the chances of avoiding problems associated with embarking on construction during the rainy season.

At the end of the day, following the fact that all the lawmakers were unanimous that the approval should be given, the Speaker, Rt. Hon. Amachree ruled that approval be given.

He, however, added that the Commissioner must be invited on a later date to the Assembly to defend the bond.