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Nairaland Forum / Nairaland / General / Politics / Rivers Assembly Okays $280m Loan For Water, Sanitation (5803 Views)
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Rivers Assembly Okays $280m Loan For Water, Sanitation by CharlesPhc: 6:51pm On Jul 07, 2014 |
The Rivers State House of Assembly on Monday approved a loan of $280m requested by the state Governor, Chibuike Amaechi, for water supply and sanitation in Port Harcourt, the state capital. Members of the House, who also instructed that the State Commissioner for Water Resources, Patricia Simon-Hart, to appear before them on the next sitting, said $80m would be accessed from the World Bank while the sum of $200m would be sourced from the African Development Bank. It will be recalled that Amaechi had last month written to the House to approve the loan from the two banks. The letter, addressed to the Speaker of the State House of Assembly, Mr. Otelemaba Dan-Amachree, read, “It may interest you to note that the Rivers State Government has successfully obtained approval from the Boards of the African Development Bank and the World Bank respectively for the Port Harcourt water supply and sanitation project. “The purpose of the project is to provide sustainable and safe access to clean and hygienic drinking water and sanitation in the city of Port Harcourt. The project, which is being taken by the Federal Ministry of Finance, for un-lending to Rivers State is to enable the state government to commence the project at the earliest possible time.” The loan will be paid back through 22 years with an initial three percent interest. It was also gathered that the first eight years would be interest-free. Speaking on the executive request, the lawmaker representing Etche Constituency II, Mr. Golden Chioma, described $280m loan as a huge amount that would attract only three percent interest http://www.punchng.com/news/rivers-assembly-okays-280m-loan-for-water-sanitation/ 2 Likes |
Re: Rivers Assembly Okays $280m Loan For Water, Sanitation by Badmushazan: 7:05pm On Jul 07, 2014 |
. 2 Likes |
Re: Rivers Assembly Okays $280m Loan For Water, Sanitation by publicenemy(m): 7:05pm On Jul 07, 2014 |
They take nternational loans Embezzle the money Abandon the project midway And when they cant pay back,it becomes the responsbility of the Federal Government to pay it thereby pulling the already messed up Nigerian economy into more mess just to fill there pockets. I just hope the money is used judiciously which i doubt. 16 Likes |
Re: Rivers Assembly Okays $280m Loan For Water, Sanitation by igbsam(m): 7:07pm On Jul 07, 2014 |
U. 1 Like |
Re: Rivers Assembly Okays $280m Loan For Water, Sanitation by Dragonking: 7:09pm On Jul 07, 2014 |
Shuooooo. 1 Like |
Re: Rivers Assembly Okays $280m Loan For Water, Sanitation by worthytalk: 7:12pm On Jul 07, 2014 |
This south south mad dog will not kill rivers people. 4 Likes |
Re: Rivers Assembly Okays $280m Loan For Water, Sanitation by NET1(m): 7:12pm On Jul 07, 2014 |
OK. Let's see how this goes. .NET 2 Likes |
Re: Rivers Assembly Okays $280m Loan For Water, Sanitation by gamesb: 7:16pm On Jul 07, 2014 |
i tot gov. amaechi said he's saving #1b every month for RIVERS PEOPLE why is he borrowing again ? gov. amaechi should stop incurring debts for incoming govt. and he must account for it. 8 Likes |
Re: Rivers Assembly Okays $280m Loan For Water, Sanitation by otokx(m): 7:17pm On Jul 07, 2014 |
Chai, there is God o. 1 Like |
Re: Rivers Assembly Okays $280m Loan For Water, Sanitation by meditate(m): 7:19pm On Jul 07, 2014 |
Why do I smell "MONEY SHARING" 1 Like |
Re: Rivers Assembly Okays $280m Loan For Water, Sanitation by sohl7(m): 7:19pm On Jul 07, 2014 |
He is planning for life after office 2 Likes |
Re: Rivers Assembly Okays $280m Loan For Water, Sanitation by DickDastardly(m): 7:20pm On Jul 07, 2014 |
Gigantic White Elephant sighted! 5 Likes |
Re: Rivers Assembly Okays $280m Loan For Water, Sanitation by saint047(m): 7:22pm On Jul 07, 2014 |
Rush hour project 4 Likes |
Re: Rivers Assembly Okays $280m Loan For Water, Sanitation by nanizle(m): 7:29pm On Jul 07, 2014 |
1 Like |
Re: Rivers Assembly Okays $280m Loan For Water, Sanitation by spillyboy14: 7:33pm On Jul 07, 2014 |
MAKE I DEY OBSERVE..
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Re: Rivers Assembly Okays $280m Loan For Water, Sanitation by iceberylin(m): 7:34pm On Jul 07, 2014 |
çlāįmįŋg ţђęįŗ įş ā ŋęw plāŋ ƒoŗ ųş... ţђęįŗ'ş ŋo lįgђţ, ђow āŗę ţђęy goŋā şђow ųş... |
Re: Rivers Assembly Okays $280m Loan For Water, Sanitation by otino(m): 7:34pm On Jul 07, 2014 |
Cant wait to be part of d construction team. Skypond here we come |
Re: Rivers Assembly Okays $280m Loan For Water, Sanitation by spillyboy14: 7:38pm On Jul 07, 2014 |
gamesb: i tot gov. amaechi said he's saving #1b every month for RIVERS PEOPLE why is he borrowing again ? 1 Like
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Re: Rivers Assembly Okays $280m Loan For Water, Sanitation by decode55(m): 7:46pm On Jul 07, 2014 |
Election campaign funds format |
Re: Rivers Assembly Okays $280m Loan For Water, Sanitation by tochman(m): 7:57pm On Jul 07, 2014 |
Don't really care about this looting scheme, all i want is my allowee. please amechi pay us our allowee and pay the teachers their 8 months salary, you can delay the others cos your debt is really huge... 4 Likes |
Re: Rivers Assembly Okays $280m Loan For Water, Sanitation by Nerosoft19(m): 8:02pm On Jul 07, 2014 |
APC don hammer...OK oo!! …no problem!!! Continue!!!! na only amaechi waka come? 1 Like |
Re: Rivers Assembly Okays $280m Loan For Water, Sanitation by myspnigeria: 8:09pm On Jul 07, 2014 |
Some people are about get richer again |
Re: Rivers Assembly Okays $280m Loan For Water, Sanitation by Mishydoo(m): 8:18pm On Jul 07, 2014 |
otino: Cant wait to be part of d construction team. Skypond here we come This is the kind of mentality that kills us all!...smh |
Re: Rivers Assembly Okays $280m Loan For Water, Sanitation by slap1(m): 8:24pm On Jul 07, 2014 |
Do we now import water? |
Re: Rivers Assembly Okays $280m Loan For Water, Sanitation by Nobody: 8:34pm On Jul 07, 2014 |
River State Ndoh nu, Egwula unu wayo anya ocha |
Re: Rivers Assembly Okays $280m Loan For Water, Sanitation by zurine(f): 8:41pm On Jul 07, 2014 |
hope it will be properly used |
Re: Rivers Assembly Okays $280m Loan For Water, Sanitation by Nobody: 8:51pm On Jul 07, 2014 |
Na so every govt for Nigeria dey carry loan, even my own LGA dey go borrow money. As for this one, make una 4get am highest tin dem go do na build few taps, put am gen, build dat small hut and put protector. Na so d whole moni go kari go. Am sorry, River state pple, na una pikin dem go suffer pay dat loan, loan wey dem no knw hw few thieves take carry chop am. |
Re: Rivers Assembly Okays $280m Loan For Water, Sanitation by phlame(m): 8:55pm On Jul 07, 2014 |
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Re: Rivers Assembly Okays $280m Loan For Water, Sanitation by Nobody: 9:10pm On Jul 07, 2014 |
all these money they are sharing in rivers state |
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