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    Tuesday, 21 June 2016

    Wike gets approval for N14bn loan

    Rivers State Governor, Nyesom Wike has again approached the House of Assembly for approval to secure another loan facility.
    This time, Governor Wike wants to take a loan of N14.16b from the Federal Government Budget Support Facility.
    The request was contained in an executive correspondence that was read during plenary by the Speaker, Dabotorudima Adams.
    The Governor said he intended to use the loan to sustain the payment of salaries and pension of retirees.
    DAILY POST reports that the state lawmakers unanimously voted for the approval of the loan.
    The letter reads in part, “The loan if assessed will help solve the financial hurdles of the state. You are aware that the our monthly Federal Allocation has dropped. In consideration of this and more we seek the authorization of the Assembly to assess this loan.”
    Meanwhile, a bill for the conversion of the Rivers State College of Arts and Science to Port Harcourt Polytechnic has been referred to the House of Assembly Committee on Education.
    The Education Committee has also been given ten days to advertise the bill in the media, conduct a public hearing, and report back to the House of Assembly.
    During the debate preceding the resolution, some of the lawmakers agreed with the proposed upgrade of RIVCAS to a polytechnic.
    Other state lawmakers also suggested that the institution should be moved to another location, away from the state capital.

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