Rivers State House of Assembly has approved the request by the State Governor Nyesom Wike to source for N18billion loan from Access Bank.
This followed a request for the approval sent to the house by the Governor and read by the Speaker, Ikunyi Ibani during plenary on Monday.
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.
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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.
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.
