With the approval of a N20 billion loan by the Rivers State House of Assembly on Tuesday, Governor Nyesom Wike would have incurred a N30 billion debt since May 29 when he became the governor of the state.
Wike, who got the nod of the House to borrow N10 billion about two weeks ago, again got the permission of the House on Tuesday to borrow N20 billion from Access Bank Plc.
The governor had earlier borrowed the N10 billion from Zenith Bank Plc after he told the House the money was meant for ‘vital projects’.
The House approved the Tuesday request after a letter from Wike demanding for the loan and addressed to the Speaker, Ikuinyi Ibani, was read on the floor of the House.
The borrowed loan is to be used to fund ongoing road projects awarded by the former Governor Chibuike Amaechi’s administration. It would also help fund new projects, according to the governor.
The loan, according to the letter, would be serviced through the state Internally-Generated Revenue (IGR).
The House granted its approval after 29 voted in favour of the loan with various reasons, including that many roads in the state have become impassable.
Some said the road projects had been abandoned and that this had affected residents of the state especially as the roads would ease commercial activities.
The Speaker, while approving the loan, said every government relied on funds to meet promises to the people.
He said the eighth Assembly of the state would only give approval “for projects we know.
“We must know the reason for any loan facility the government is requesting even now, or later.”
Meanwhile, the House has now given recognition to Celestine Omehia as à former governor of the state following last week’s recognition of Omehia by Wike.
This is even as condemnation has greeted the recognition of Omehia after he was sent packing out of the Government House by the Supreme Court.
The motion for his recognition was moved by the leader of the House, Martin Amaewhule, representing Obio/Akpor Constituency 1.
He commended Wike for restoring Omehia his rights and privileges as governor recalling that Omehia proclaimed the sixth Assembly of the state in 2007 before he was sacked by the court.
“It is only okay to right the wrong; to remove impediments and ensure there was smooth governance,” he said.
The Speaker said though the House was not planning to confront the Supreme Court, but that the decision was just to ensure peace.
