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 Bayelsa Assembly approves Diri’s N30 billion loan request

Bayelsa Assembly approves Diri’s N30 billion loan request


The Bayelsa House of Assembly on Wednesday approved a request by Governor Douye Diri to obtain another loan of N30 billion.

The request was contained in a letter forwarded to the legislative arm by Mr Diri which was read on the floor of the House by the clerk.

According to the letter, the loan will be used to fast track the ongoing projects in the state.

The projects include the outer ring road, AIT/ Igbogene Road, and other major projects in the state.

The News Agency of Nigeria (NAN) reported that part of the loan will also be used to kick-start the Nembe/Brass Road which has been on the drawing board for many decades.

Speaking in favour of the loan, the Leader of the House, Monday Obolo, representing Southern Ijaw Constituency 1, said that everybody in Bayelsa was aware of the number of projects that were ongoing in the state.

He urged the house to approve the loan in order to ensure inclusive development in the state.

Other speakers include Tonye Isenah of Kolokuma/Opokuma Constituency I, Tare Porri of Ekeremor Constituency I, and Koku Oyal, among others.

The Speaker of the House, Abraham Ingobere, said the loan was for the development of the state and would cut across the three senatorial districts.

Mr Ingobere described the governor as a prudent man, noting that he has judiciously used the state resources.

He said he had no doubt that the governor would use the money for the purpose it was meant for if the loan was approved.

“For Bayelsa state to be economically viable, we must take roads to the hinterlands and make sure the roads hit the sea. The money, if collected, will not affect federal allocation into the state.

“Workers’ salary will not be affected; pensioners will get what is due to them at the end of the month.

“Nobody’s salary will be affected; hence we will support the loan and throw our weight behind the governor.

“The loan will be repaid through the expected money to the state deducted overtime by the Nigerian National Petroleum Corporation as part of 13 per cent derivation,” he said.

The 24-member House unanimously approved the loan request to be sourced through commercial banks or capital markets through bond.

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