Yet again, Bayelsa Assembly approves Diri’s N30b loan request – The Sun Nigeria
By Femi Folaranmi, Yenagoa
The Bayelsa State Assembly has approved Governor Douye Diri’s N30 billion loan request.
The House of Assembly on Wednesday gave express approval to the loan during the plenary session after the clerk read the letter urging lawmakers to fast-track projects underway in the state.
The money must come from commercial banks or bonds via the capital markets and would be repaid
The Governor’s letter said the money will be used for the three ongoing Senate Roads, Outer Ring Road, AIT/Igbogene Road and other major projects in the state.
He also said part of the loan will also be used to launch the Nembe/Brass route which has been on the drawing board for many decades.
The Leader of the House, the Hon. On Monday, Bubou Obolo, representing South Ijaw Constituency 1, while speaking in favor of the loan, said everyone in the state was aware of the number of projects underway by the current administration, noting it would be ideal if the house approved the loan so that the development can access the hinterland.
Obolo was backed by other lawmakers as they came out unanimously in favor of the loan and said they were ready to give it express approval to help accelerate development in the urgently needed state. of development.
The Speaker of the House, Rt. Hon. Abraham Ingobere noted that the loan is for the development of the state which crosses the three senatorial districts.
According to him, Governor Diri is a prudent man who has used state resources wisely, emphasizing that he has no doubts about the wise use of the money for the purpose for which it was obtained.
“For Bayelsa State to be economically viable, we need to have hinterland roads and ensure that the roads touch the sea. The money, if collected, will not affect the allocation federal in the state.
“Workers’ wages will not be affected, pensioners will receive what is due to them at the end of the month. No one’s salary will be affected, so we will back the loan and throw our weight behind the governor.”
The money must come from commercial banks or bonds through the capital markets and is expected to be repaid over time through deductions by the Nigerian National Petroleum Company under a 13% diversion.