TONY JOHN, Port Harcourt
Rivers State House of Assembly has approved requests of Governor Nyesom Wike to access over N6 billion loan facilities from Zenith Bank.
The loan is for funding and implementation of the accelerated state’s agricultural development scheme, and to access counterpart fund from the Universal Basic Education Commission (UBEC).
The requests were contained in a letter forwarded to the Assembly by Governor Wike, and read on the floor of the House by the Speaker, Ikuinyi-Owaji Ibani.
Ibani, while approving the requests after a debate by members in favour of the move, said the N6 billion loan request earmarked for the development of the agricultural sector, will provide employment opportunities for youths of the state.
The speaker said that N1.5 billion was approved by the House for the state to access counterpart fund from the Universal Basic Education Commission.
This latest loan facility came barely a month after the House of Assembly approved N18 billion loan facility request for the governor
On the N18 billion loan, Wike in his letter to the House of Assembly said the loan was needed for the construction of the forth flyover bridge at Government Reserved Area (GRA) junction along Port Harcourt/Aba express road, dualization of Mummy ‘B’ road to Stadium road, Tombia Street to Ikwerre road and for payment of compensation to those whose property would be affected by the constructions, among others.