Governor Nyesom Wike is about to increase the debt profile of Rivers state following his plan to secure a N10 billion loan from Zenith Bank.
The governor, according to Vanguard, has made a request to the Rivers state House of assembly for the approval the loan which he intends to use for capital projects within his first 100 days in office.
His request which was read by Speaker of the House, Ikuinyi Ibani, during the sitting of the House members yesterday, June 11, was subsequently granted after the house considered the attached details of the proposed projects to the governors letter.
Throwing his support to the governors request, Evans Bipi, member representing Ogu/Bolo constituency, expressed confidence in Governor Wike’s ability to diligently put the loan to good use.
He said: “The money is small but it shows that our governor will be diligent with public funds.”
The move by the Rivers State government may not come as a surprise to many after the former governor, Rotimi Amaechi, revealed the state was broke and that, the new governor would be in for a surprise when he assumes office.
Meanwhile, following the mysterious deaths of about 22 people in Bonny Island, Bonny, and Woji in Obio Akpor local government areas, the Rivers state governments had banned the consumption of local gin popularly called ogogoro or kai-kai.