Friday, September 24, 2021
Array

Wike seeks N18bn loan for construction of 4 flyovers, others in Rivers

Must read

- Advertisement -

Governor Nyesom Wike of Rivers has requested for consent of the State House of Assembly to borrow N18bn from Access Bank for the construction of a flyover and two major internal roads in Port Harcourt, the state capital.

READ ALSO:   COVID-19: Kano govt to cut 2020 budget by 30% – Ganduje    

The Speaker, Ikunyi-Owaji Ibani, read the letter containing the governor’s request during plenary on Monday.

“The N18bn loan is expected to be channeled towards construction of a fourth flyover at the GRA Junction, dualisation of the popular Mummy B and Tombia internal roads,” Mr Wike explained in his letter.

The governor pleaded with the lawmakers to accord an accelerated consideration to his request.

On the method for repayment, the governor said it would be serviced through Internally Generated Revenue, IGR, of the state targeted at the 2020/2023 fiscal year.

READ ALSO:   In 6 months, Sokoto generates N11.4bn IGR

The 25 members of the house voted in support of the governor’s request as they were all of the view that the fund when released would be used to further complement infrastructural development in the state.

In his response, the speaker stressed that the fund when accessed should be judiciously invested on the proposed projects.

READ ALSO:   Eid-el-Maulud: Wike urges Muslims to promote religious tolerance

NAN

- Advertisement -

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here
READ ALSO:   Lagos govt recovers N1.2bn excess bank charges

- Advertisement -

Latest article

- Advertisement -
cosgrove