| Gov. Nyesom Wike |
The approval was made based on
the request of Governor Wike in a letter to the House, seeking to explore the
option of borrowing from the Excess Crude Account that is being managed by the
Federal Government. He said the loan would be used to finance capital projects
in the state, in view of the prevailing financial challenges in Nigeria.
The request was read during an
emergency session of the Assembly, which was presided over by the Speaker,
Adams Dabotorudima. He said the decision to seek the loan from the Excess Crude
Account was in line with the advice of the Federal Government for states to
explore the reserve fund at low interest.
After a debate on the request
of the Governor led by the Chief Whip, all members of the House who were
present voted in favour of the loan. Meanwhile, the Rivers Assembly has
adjourned plenary until further notice.