The requested loan of N18 billion facility from Access Bank by Governor Nyesom Wike tabled on floor of the Rivers State House of Assembly, has been unanimously approved by the lawmakers on Monday.
This is sequel to a request for the approval sent to the house by Wike and read by the Speaker, Ikunyi Ibani during plenary today.
Wike, in his letter said the loan, which will be fully repaid before the end of his tenure in 2023 will be serviced by the internally generated revenue of the state.
He explained that the loan will accelerate development in the State, take care of the construction of the fourth flyover at GRA junction, dualization of the Mummy B to Stadium road, dualization of Tombia to Ikwerre road and payment of ancil facilities and properties to be destroyed in course of the projects.
Lawmakers including, Evans Bipi, representing Ogu Bolo constituency, Michael Chinda, Obio-Akpor 2, Abiye Blessing Pepple representing Bonny Constituency, Matthew Nenubari Dike representing Tai Constituency and Martins Amaewhule representing Obio-Akpor 1 during debate supported the request.
There were 25 lawmakers present at the sitting and they voted in favour of the request when put to vote by the Speaker.
The house adjourned to 18th August, 2020.