The Rivers State House of Assembly on Thursday approved a
loan of N10 billion requested by the State Governor, Nyesom Wike. The state
governor had sent a letter to the House of Assembly asking that he should be
granted approval to secure the loan that would be used to fund some major
projects in the state.
loan of N10 billion requested by the State Governor, Nyesom Wike. The state
governor had sent a letter to the House of Assembly asking that he should be
granted approval to secure the loan that would be used to fund some major
projects in the state.
28 lawmakers voted in favour of the approval.
Speaker of the House, Mr. Ikuinyi Ibani, in his remark,
explained that it would be difficult for any government to survive without
funds to operate.
explained that it would be difficult for any government to survive without
funds to operate.
Ibani, who pointed that the House would not be involved in
frivolous approvals, added that the state legislature would endorse transparent
and sincere requests that would benefit the people of the state.
frivolous approvals, added that the state legislature would endorse transparent
and sincere requests that would benefit the people of the state.
Explaining that the immediate past administration left an
empty treasury, the Speaker disclosed that the loan would be taken from Zenith
Bank and repaid through Valued Added Tax.
empty treasury, the Speaker disclosed that the loan would be taken from Zenith
Bank and repaid through Valued Added Tax.
Punch
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