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‘RSG Not Indepted To Any Bank’

The Rivers State Government, last Monday, dismissed claims in some quarters that it was owing some local and external banks, insisting that it was “not indebted to any bank in Nigeria”.
The state government was reacting to media reports credited to the Federal Government-run agency, the Debt Management Office, to the effect that Lagos, Delta, Rivers, and Akwa Ibom were states currently topping domestic debt list with N1.18trillion.
But the Permanent Secretary, Rivers State Ministry of Information and Communications, Pastor Paulinus Nsirim, who shrugged off the claims as a figment of the imagination of their purveyors, while speaking with newsmen in Port Harcourt, described the Debt Management Office’s position as another attempt at maligning the integrity of the current administration in the state.
Nsirim maintained that the state government had been frugal in its management of state resources, adding that the statistics were incorrect and a ploy to de-market Rivers State.
Putting Rivers monthly Internally Generated Revenue (IGR) at around N8billion, the permanent secretary added that the state had never resorted to reckless borrowing that would make her run into debts.
He said: “That with a healthy monthly Internally Generated Revenue profile of, at least, N8billion, the state does not resort to reckless borrowing that will make her run into debts.
“That as a matter of deliberate policy, the present administration in Rivers State, desirous to leave behind a worthy legacy, does not embark on a white elephant project that will require bogus financial obligations.”
Nsirim explained that Rivers State Government operated accounts with only Zenith and Access Banks, clarifying that it had since repaid all loans obtained.
“The state government inherited a commercial bank loan of N15,845,118,108.44 in 2015, which had been liquidated.
“The issues of debts owed to contractors, pension arrears, etc, which the Debt Management Office used to stigmatise the state are recurrent and capital expenditures, which payments are ongoing.
“The Federal Government’s intervention loan approved for every state of the federation has a repayment plan that is spread over many years. Rivers State Government has not defaulted on the repayment plan.
“The Wike administration has been prudent in the management of scarce state resources backed by healthy monthly internally generated revenue.
“Unlike previous administrations that left behind huge debt profiles, the present administration will not mortgage the future of the state in any way,” Nsirim said.
He added that all loans taken by the current administration for infrastructural development of the state from Zenith and Access Banks had been cleared.
The Rivers State Government said: “That since 2015 till now, His Excellency through a well-articulated fiduciary template has made governance better than how he met it.
“That unlike previous administrations that left behind huge debt profiles, the present administration will not mortgage the future of the state in any way.
“That journalists and media houses should adhere to the dictum, ‘Facts Are Sacred’ by always cross-checking their facts before publication. That the Rivers State Government under the visionary leadership of His Excellency will not be distracted by any form of yellow journalism but will remain focused to fulfill the social contract with the people.
“This appears to be another orchestrated plan to de-market the state through unconfirmed statistics since other forms of negative propaganda had failed”.
The Rivers State Government urged well meaning Nigerians to disregard the falsehood being peddled by anti-Rivers political forces.
Chris Oluoh
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