25th June 2024

Rivers State Governor, Siminalayi Fubara, has revealed that the state is heavily in debt and that his administration inherited a huge debt profile from the previous administration of Nyesom Wike.

Governor Fubara stated this on Tuesday during the commissioning of the Aleto-Ogale-Ebubu-Eteo Road, (also known as Old Bori Road in Eleme Local Government Area of the state.

The governor and Wike, who is the Minister of the Federal Capital Territory, FCT, have been at loggerheads over control of the political sphere in the state.

Despite intervention from President Bola Tinubu, the duo have continued their cold war.
Wike had on several occasions claimed he was leaving the state debt-free.

But speaking at the commissioning ground at Eleme, Governor Fubara said most projects commissioned by the previous administration were not paid in full, adding that the contractors of the projects not fully funded are returning for outstanding payments.

The Governor, who did not give an estimate of the state’s debt, said he is now compelled to speak out after being pushed by his detractors.

He said: “My story as a person will not be complete if Eleme is not mentioned, that is the truth. Maybe, if I have not started from Eleme, I will not get to Level 14.

“At least I started here before I got to Level 14.

“And for the records, this contract was awarded to CCECC on the 14th of August 2023 not by “I” but by this administration and as we go further, we will be going with a White Paper showing the record and amounts this project was awarded.

“This project was awarded at N6.7bn and I can say boldly no kobo is remaining, we have paid the contractor completely without owing. The purpose of this is to let the world know that if there is one problem this administration has it is debts.

“Most of the projects commissioned (by the last administration), the contractors are still coming for their balance payments running into millions and billions. I have said I don’t want to talk because I am part of that system but when they keep pushing me, I will say it so that we will see the nyansh of the fowl.

“But let us leave that one until when they are ready, we will also be ready. The small one we are doing now, they are not sleeping, I wonder what will happen when we do the big one.

“The Problem we have is accumulated debts from the past government.”
Governor Fubara also said he invited his Abia State counterpart, Alex Otti to commission the project, stating that he is committed to aligning with progressive figures.

Otti, on his part, described Fubara’s style of governance as true leadership, adding that true leadership is service to the people, and not to a few interests.

In his summation, Otti believes Governor Fubara cannot be distracted by the political crisis in Rivers State.

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