Projects: RVHA Approves N10bn For Wike

President Muhammadu Buhari (left), welcoming President Mahammaduo Issofuo of Niger Republic to the Summit of Heads of State and Government of the Lake Chad Basin Commission, at the Nnamdi Azikiwe International Airport in Abuja,yesterday

The Rivers State House of Assembly has given the state government approval to access N10billion loan from the Zenith Bank to carry out construction of roads and renovation of the State Judiciary and the Assembly.
The House gave the approval after deliberation on the request by the state Governor, Nyesom Wike, to allow the government access loan from the bank to enable it execute projects in the state.
Members during deliberation, expressed satisfaction with the details given by the state government on how to use the fund, adding that this was the first time such thing would happen in the state.
The Leader of the House, Hon.Martins Amaewhule, said the loan was necessary because the present administration inherited nothing from the last administration.
Hon.Jones Ogbonda, representing Port Harcourt Constituency 1, said the request by the executive shows that they really mean business to serve the people of the state.
According to him, the Governor went further to accommodate the renovation of Assembly and the Judiciary which were closed for about a year.
Hon. Edison Ekiye, representing Ahoad East, said the Eagle Island Road, which was included as one of the roads to be concluded, would help the people living in that area to access the town.
He noted that if the loan is approved, it would keep the government functional, adding that the government needed money to run the state as it did not have anything to fall back on.
The Speaker, Rt.Hon Ikuinyi Ibani, said the House will try as much as possible to cooperate and give necessary support to the executive arm of government because the expectation of the electorate was high.
According to him, “we must provide succour to our people so that they will see the difference between yesterday and today, and have hope for the future’’.
He assured the people of the state that the Assembly will not be involve in frivolous approval of loans to the executive.
He noted that the letter presented to the Assembly had an attachment because “if we are approving loan for the executive, then we must know what they are doing with it”.
According to him, “the Assembly has the right to know so that members will inform their people appropriately as to what the sum so requested is meant for.’’
He said what the governor and the Assembly have done was in line with constitutional provisions.
The letter read “Request for Approval for N10billion loan from Zenith Bank plc to finance vital development projects. As you are aware, the new government inherited an empty treasury from the out gone government.
This situation has made it difficult for us to function effectively, consequently, in order to start developmental projects, and deliver on our promises to the people of Rivers State, we have considered it very necessary to seek approval of loan to the tune of N10billion to fund some vital development projects.
The loan will be secured and serviced from the Rivers State Value Added Tax (VAT) account domiciled with the bank.’’