The Rivers State House of Assembly has approved a request permitting Governor Nyesom Wike to borrow N9 billion from Zenith Bank.
The Assembly gave its approval to the request of the governor, yesterday, during an emergency sitting convened by the Speaker of the House, Dima Dabotoru.
Wike had sent the request to the Assembly demanding its approval to allow him access the said loan. He also noted that the money would be used for capital projects.
Wike added that the loan would be repaid from money the state earns from Indorama Company, Petrochemical Eleme in the state. Ruling on the governor’s request, the Speaker of the Rivers State House of Assembly, Dabotoru enjoined 8th Assembly to support the state governor to get the loan.
While adjourning till July 19, Dabotoru said the loan would be used for the development of the state. “There is need for this House to grant the request of the governor of the state, which stands as a request. I call on this Assembly to support the state governor to allow him access the loan. The loan if obtained will be used for developmental projects in the state.”