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  • News - South South - Rivers
  • Updated: May 14, 2024

Rivers facing debt challenges — Governor Fubara

Rivers facing debt challenges — Governor Fubara

Rivers Governor Siminalayi Fubara has disclosed that the state is facing significant debt challenges, inheriting a substantial debt profile from the previous administration led by Nyesom Wike.

Fubara made the revelation 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's statement comes amidst ongoing tensions between him and Wike, who currently serves as the Minister of the Federal Capital Territory (FCT). Their differences have led to a strained relationship and political disagreements within the state.

Contrary to Wike's claims of leaving the state without debt, Governor Fubara emphasized that many projects initiated by the previous administration were not fully funded, resulting in contractors returning for outstanding payments.

Although the governor did not provide an exact figure for the state's debt, he felt compelled to address the issue, particularly in response to criticisms from his opponents.

Governor Fubara expressed his appreciation for the significance of Eleme in his journey and acknowledged its role in his political career. He emphasized the importance of addressing the state's financial challenges to ensure progress and development for all residents.

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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