RSHA Approves Sale Of Gas Turbines, MTEF, Others

The Rivers State House of Assembly, yesterday, approved three requests by the Rivers State Governor, Chief Nyesom Wike on the floor of the House.
These include the sale of the Rivers State Government-owned gas turbine generator units and accessories abandoned in The Netherlands and other wasting power assets.
Others are accessing bridging funds of N18, 225, 336, 103.89 from the Federal Government, and authorisation for the Rivers State Medium-Term Expenditure Framework 2022-2024.
The approval followed a letter sent to the House by Governor Nyesom Wike requesting the House to do so.
Speaker of the House, Rt. Hon. Ikuinyi-Owaji Ibani, while commenting on the significance of the requests, commended the Rivers State governor for the thorough knowledge in investigating to ensure the state was not launched into indebtedness.
He said that if the fund was available in the hand of the government, it would go a long way to ensuring further development of the state for present and future generations.
Ibani further stated that Rivers State Government has every right to participate in accessing the fund by the Federal Government.
He added that, according to the Federal Ministry of Finance, the amortisation period for repayment is 30 years with a moratorium of two years while the draw-down will be in six tranches.

By: Kevin Nengia