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Fubara Reveals N225.279bn Debt Inherited from Previous Governor Wike

Fubara Reveals N225.279bn Debt Inherited from Previous Governor Wike

Sir Siminalayi Fubara, the current Rivers State governor, disclosed that he inherited a significant debt of N225.279 billion from his predecessor, Nyesom Wike.

Fubara stated that his administration has initiated nine new road projects worth N534.332 billion, while also dealing with 34 unfinished projects valued at over N225.279 billion across 13 local government areas.

He also criticized the political challenges his administration faced just three months after taking office on May 29, 2023.

Fubara shared these details during his One Year Anniversary Account of Stewardship and Scorecard presentation at Dr. Obi Wali International Conference Centre in Port Harcourt on Wednesday, May 29.

The Governor said: “We started this journey with a bang. We were focused. We were determined to make the change we promised with a sense of urgency.

“But then, somehow, we suddenly found ourselves in the cesspit of crisis barely three months into our tenure. It was not just an ordinary political crisis. It was a vicious existential crisis.

“But thank goodness, the worst is over. We have successfully defended our rights and opportunity to govern our State and advance its progress in freedom, and we will continue to prevail.”

He added, “For us, any government worth its name must be accountable, responsive, and responsible for the security and well-being of the people.

“Having managed the affairs of our State for one year, including dispensing public resources, it is only proper that we render account with a public presentation of our performance record.

“I am, therefore, pleased to stand before you to present our Scorecard for the first year we have been in office as the Executive arm of the Government of Rivers State.”

“We also needed to attract investments into the State and increase our internally generated revenue base as too much reliance on federal allocations was a challenge to the realisation of our development goals.

“We, therefore, set up an IGR/Investment Advisory Committee, which is helping us to navigate our course for increased economic investments and internally generated revenue to accelerate economic growth, create jobs and advance the welfare and well-being of our people.”

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