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RSHA Authorises N18bn Loan For Projects Commends Wike’s Dev Efforts
The Rivers State House of Assembly has approved a request for N18billion loan by the Rivers State Governor, Chief Nyesom Wike, from Access Bank.
The loan would be used to construct the fourth flyover bridge at the GRA junction, Port Harcourt, and would be paid back within the tenure of the administration.
The Speaker of the House, Rt. Hon. Ikuinyi-Owaji Ibani, last Monday, read the request during plenary to members after which a vote was made for its approval.
Wike, in the letter said the loan, which would be fully repaid before the end of his tenure in 2023, would be serviced by the internally generated revenue of the state.
He further explained that the loan would accelerate development in the state, take care of the construction of the fourth flyover at GRA junction, dualisation of the Mummy B to Stadium Road, dualisation of Tombia to Ikwerre Road, and payment of ancillary facilities and properties to be destroyed in course of the projects.
Lawmakers present during the plenary include, Hon Evans Bipi, representing Ogu/Bolo Constituency, Hon. Michael Chinda, Obio/Akpor 2, Hon. Abiye Blessing Pepple representing Bonny Constituency, Hon. Matthew Nenubari Dike; representing Tai Constituency, and Hon Martins Amaewhule representing Obio/Akpor 1.
All the 25 lawmakers present at the sitting voted in favour of the request when put to vote by the Speaker.
The House later adjourned to August 18, 2020.
It would be recalled that the State Executive Council had on July 22 approved the sum of N18billion for the construction of the flyover bridge.
The amount also covers the dualisation of Tombia Extension Road to Ikwerre Road and Ezimgbu Link Road to Stadium Road, as well as the expansion of the Rumuola flyover.