(By Iheanyi Ezinwo)-The Rivers State House 0f Assembly has given Governor Nyesom Wike their blessing to borrow the sum of 6.5 billion Naira from Zennith bank in order to improve food production and security; and to service and renovate educational facilities in the state.
One of the governor’s letters requested for N5 billion for farmers while the second letter of N1.5 billion was for renovation of educational facilities in the state.
Speaking on Tuesday before the governor’s requests were granted, the lawmakers said the move would bring about development, job creation, food security, and diversification of the state’s economy.
In his remarks, the Speaker, Rt. Hon. Ikuiny Owaji-Ibani said: “The loan is geared towards improving the agricultural development in the state, considering the pandemic that has almost crippled the world economy, including that of the state.”
It wold be recalled that, in August 10, 2020, Rivers State House of Assembly had approved N18 billion for Governor Nyesom Wike to support the construction of the fourth flyover at GRA junction, dualisation of some roads and payment of compensation for facilities and property to be demolished in the course of the projects.
Meanwhile,the governor had assured that the loans would be repaid through the Internally-Generated Revenue by his administration.