Tony John, Port Harcourt

Rivers State House of Assembly has approved Governor Nyesom Wike’s request to obtain a loan of N18 billion from Access Bank Plc. 

The approval was made yesterday, following a letter from the governor requesting for the approval of the House and read by Speaker Ikunyi-Owaji Ibani during plenary.

Wike said the loan was needed for the construction of the forth flyover at Government Reserved Area (GRA) Junction on Port Harcourt/Aba expressway, dualisation 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.

He said the debt would not be left for succeeding administration, as it would be fully paid off before the end of his tenure in 2023, with proceeds from internally generated revenue.

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Debating on the request during plenary, some of the lawmakers, including Majority Leader, Martin Amaewhule, and the lawmaker, representing Tai constituency, Matthew Dike, observed that the indices required for the loan facility had been clearly stated in the letter from the governor; hence, the need to grant the request.

They insisted that it would deepen physical infrastructure development and enhance completion of ongoing projects in the state.

“The projects that are on ground justify the collection of the loan and there is no gainsaying the burden will not be left to the next administration,” the lawmakers said.

Ibani, while outlining the projects earmarked for execution in the N18 billion loan request, approved it after a vote in its favour by 25 members.