Infrastructural Development: RSHA Approves N20b Loan For Wike
In a hurry to secure a face-lift for the State and vigorously develop her dilapidated infrastructure, Rivers State governor, Mr. Nyesom Wike has been granted approval of a Twenty Billion Naira loan request by the Rivers State House of Assembly (RSHA).
The request was contained in a letter to the House titled ‘Request for approval to borrow N20 billion loan facility from Access Bank Plc to finance major ongoing road projects.’
The letter which was sent through the Speaker of the house, Ikuiyi-Owaji Ibani, said that the loan facility is intended to complete some uncompleted road projects embarked upon by the previous administration and also for some new road projects to be executed by his administration.
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“Pursuant to our resolve to continue viable ongoing projects, government has met with contractors handling major roads construction in the state with a view to mobilising them back to site.
“The contractors handling road projects awarded by the previous administration have indicated their willingness to mobilise to site and continue with construction work as soon as funds are released to them.
“As a result, we have considered it expedient to mobilise the contractors of the following ongoing road projects subject to availability of funds; Abuloma-Woji road, Woji Akpajo road, Rumuepirikom-Whimpey-Rumuolumeni road, Ozuoba-Ogbogoro-Rumuolumeni road, Rumuepirikom-Eleproanwa road and Igwuruta-Eneka-Elimgbu-Rumukwurushi road.
“In addition, we have also concluded plans to embark on the construction of the following new roads and other projects; Elelenwo-Akpajo road, Oroigwe road, Igwuruta-Chokocho road, the rehabilitation, fencing and construction of internal roads in Government Girls Secondary School, GGSS, Rumuokwuta.
“Mr Speaker, it is important to reiterate that these projects, when completed, will accelerate economic development in the state and improve the social well-being of our people. However, since the state government has no funds in its coffers we will be unable to mobilise any contractor to site without first finding the funds on willing development partners. Accordingly, we approached Access Bank Plc, which has graciously agreed to advance the state government with a loan facility of twenty billion Naira only for the purpose of funding these projects.”
28 lawmakers voted in favour of the approval.
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The House also resolved to recognise Sir Celestine Omehia as a former governor of the state, instructing that his portrait should be hanged at the Government House, Port Harcourt.
This loan would be the second, approved by the assembly to Wikes administration since his inauguration.
The assembly had on June 11 approved the state governments request to obtain a N10 billion loan from Zenith Bank Plc to fund major projects in the state
