Rivers Assembly Approves Wike’s N18B Loan Request
The Rivers State House of Assembly has approved a request by Governor Nyesom Ezenwo Wike to source for N18 Billion loan from Access Bank.
The approval followed a letter from the governor, which was read on the floor of the House by the Speaker, Rt. Hon. Ikuinyi-Owaji Ibani, at its resume sitting yesterday.
According to Wike’s letter, the loan will be used to construct fourth Flyover at GRA Junction along Port Harcourt-Aba Road as well as the dualization of Ezimgbu Link Road dualization Tombia Road dualization.
He stated that the loan will accelerate development in the state and take care of payment of ancillary facilities and properties to be destroyed in course of the project.
The governor, who had pleaded with the legislators to give accelerated consideration to the request, said the loan will be service through Internal Generated Revenue of the state between 2020 to 2023 fiscal year.
Debating on the governor’s request, lawmakers representing Ogu/Bolo Constituency, Hon. Evans Bipi; Obio/Akpor II Constituency, Hon.Michael Chinda; Bonny Constituency, Hon Abiye Pepple and leader of the House, Hon. Martins Amaewhule, supported the request.
It was learnt that 25 members of the House, who were present during the debate voted in favour of the loan request.
Recall that the Rivers State Executive Council had on July 22, 2020, approved the sum of N18Billion for the construction of a fourth flyover bridge at GRA, Junction along Aba-Port Harcourt Expressway.
The approved sum also covers the dualization of Tombia Extension Road to Ikwerre Road and Ezimgbu Link Road to Stadium Road.