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Rivers assembly permits Gov. Wike to access N14.16 billion FG loan to pay salaries

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Rivers assembly permits Gov. Wike to access N14.16 billion FG loan to pay salaries

The Rivers State House of Assembly has given approval to Governor Nyesom Wike to access a N14.16 billion Federal Government Budget Support Facility in order to pay salaries of workers and pensioners.

The governor’s request via a letter to assembly speaker, Dabotoru Dima, was unanimously approved by all 14 lawmakers in attendance at plenary on Tuesday.

The governor had said in the letter that his administration had not accessed the N10 billion earlier approved by the House as bailout.

The N14.16 billion facility, according to the governor, will be collected in three tranches with nine percent one year moratorium, if approved by the state legislature.

The letter indicated that the loan would be secured on future dividends or funds accruing to the state from the Federal Government.

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