Descartes:
Lootocracy !!!

phantom:
MR Josiah Olu, Chairman, Finance Committee of Rivers House of Assembly, on Tuesday said that the House had approved N19 billion from reserved funds for Gov. Amaechi to complete ongoing projects.

[b]Olu, (APC-Eleme), told the News Agency of Nigeria (NAN) in Port Harcourt that the Assembly, had earlier in the year, approved N30 billion for Amaechi from government’s reserved funds.

He said the financial situation of the country had made it impossible for states to meet their financial obligations.

"What the states get from the centre has dwindled drastically and it’s been quite difficult for states to pay salaries and meet contractual obligations.

Gov. Amaechi had initiated compulsory monthly savings of N1 billion for the state reserve funds which the Assembly passed into law.

"Luckily for us, that’s what we have been able to fall back on to cushion the effect of harsh conditions we find ourselves,’’ he said.

The committee chairman said the state did not borrow the N19 billion, but accessed its savings in the reserved funds to complete ongoing projects.

He said that Amaechi had approached the House to amend the law on the reserved funds to enable government access it to cushion effects of the short fall in revenue from the federation account.[/b]

Olu said the House amended the law which enabled government to access funds from the monthly compulsory savings. (NAN)


source

chrisxxx:
Dont be fooled. There was no saving in the first place. The dramatic and simulated withdrawal is just to cover up in case an opposition government takes over. He claimed he saved what about the interest? I am suprised very few people understand the craftiness and antics of this governor. Please there was no saving at all. To prove to you see if you would notice any difference in terms of project executions after the withdrawal.bI weep for Rivers State. This rape is happening before me and I seem powerless. I am afraid to talk so as others too.

richardjemedafe1:
LISTEN AND LISTEN CAREFULLY!!
1. The whitest man on earth still has a black
shadow.
2. No mechanic can repair 'breaking news.'
3. No matter how tall you are, you can never see
tomorrow.
4. Even if you have millions of cars, you still
have to walk to your bedroom.
5. You, being the best swimmer doesn't make
you a fish.
6. The strongest man on earth can never carry a
mountain.
7. The smartest Assassin on earth can never kill
Water.
8. No matter how smart a police is, he can never
catch the air.
9. No matter how mighty a man is, he can never
be wise as King Solomon.
10. Going to Church or Mosque doesn't makes
you a good Christian or Muslim.
Add yours lemme see how smart ya'll are

all4naija:
That Rivers governor should be jail! He should be voted out of power quickly.

pendy79:
A good leader will safe for the rainy day and the reality of the times we are now calls for a serious thinking. We have a finance minister who told us that paying off huge billions will help us get on on our road to economic recovery and rejuvenation now same minister is saying it is okay to borrow $1bn to fund arms purchase and we are supposed to have a sovereign wealth fund, sure-p funding, excess crude account but we still want to go borrowing with an interest of N30bn on the loan.

Not many governors can boast of such prudency not even my loved and cherished fashola. I give it to gov. Rotimi amaechi on this one. Can the spendthrift gov. in the south of the niger who earns the largest allocation boasts of N10bn in a escrow account? When he can't even pay primary school teachers for some months as we read. Riverians will sure miss you.

chrisxxx:
Dont be fooled. There was no saving in the first place. The dramatic and simulated withdrawal is just to cover up in case an opposition government takes over. He claimed he saved what about the interest? I am suprised very few people understand the craftiness and antics of this governor. Please there was no saving at all. To prove to you see if you would notice any difference in terms of project executions after the withdrawal.bI weep for Rivers State. This rape is happening before me and I seem powerless. I am afraid to talk so as others too.

phantom:
i am in rivers state and i can attest to the fact that there are indeed uncompleted projects all over the state and these projects are suffering from poor funding.

on nigeriainfo fm a few weeks ago,the governor admitted the state was cash strapped.he was finding it very difficult to pay salaries BECAUSE federal allocation had reduced drastically(to about 12billion/month)so he managed to make up from his 10billion/month IGR to do that.as a result ,projects have stalled and for those of you who live in PH,you can all attest to the fact that amaechis projects ON A GOOD DAY,are completed quite rapidly.

the woji elelenwo link road/bridge needs to be completed. i dont know how much its budget is,but from what ive seen going on at the site,that project is bloody expensive.
iwofe road(being constructed by MCC) is also moving on slowly
the andoni-opobo unity road is probably the most ambitious road project taken on by a state governor.very few roads (e.g lagos-badagry by LSG and maybe the delta to akwaibom segment of the east-west road )in nigeria would dwarf its magnitude and cost

those of us unbiased citizens who live in PH know that amaechi has taken on ambitious and costly projects which he is struggling to complete.
And u think 19B is the leverage to constructing or finishing all these projects u have mentioned? I think u r not a good spokeman or u never did ur homework well.

aguizm:
U are definitely high on some cheap weeds by mentioning wike's name.
Ameachi should tell us what he did with the #495 billion budgeted for this year. Which projects are there that he is borrowing or ploughing back according to Mr olu to complete.He is just withdrawing the money to enrich himself before he leaves office.


#Less I forget Team Nyesom Wike For Governor# For a better and more developed rivers. Wike 2015

redcliff:


Are you just stewpid or just plane stupid? For the fact that a governor took this gesture more than 2years bfre to the end of his tenure is worth lauding..if its 19billion, that accounts for 19months. Must you hear every bit of the news? Even if theres interest, did they tell you it was withdrawn? If an opposition takes over, thats enough reason to even call external auditors to better scrutinize the accounts and believe me real auditing is matemathics. 1+1 must give 2. If it doesnt, then there is a hole in the system. Do you think Amaechi would be foolish enough not to get things right? If you have proper evidential facts and figures, please speakup or hold your peace and stop formulating poo from thin air. I dont understand how nigerians think. It eludes me.

chrisxxx:

Bros may I humbly ask who unchained you? I thought you were on psychotherapy treatment and hence chained? Evidently with respect to ur trash surmise u still have an issue. Or could it be that u are suffering from cranial-rectum inversion? Or you have ur grey matter soaked in a medium of cow dung and osmosis taking full effects? If any of this is the case I reserve my comment on you lest u would have known to make ur points without abusing anybody who has contrary opinion.

redcliff:


As it relates to the topic. You said nothing..please stop digressing.

Raymondenyi:
U re a Big fool...

mcdokwe:
All this end time projects. A precursor to abandoned projects, as there are no guarantees that the succeeding government would pick up from where the predecessor left. #sitdown dey look na dog name -Ejiro 2012

it's a good thing the money was taken from the state's saving though. (T. A Orji, how much you save? )

Toktee:
you are very dull,,,,,the speaker said,they have approved the money for the completion of ongoing projects,he dnt said the governor wnt to initiate new project.

aguizm:
U are definitely high on some cheap weeds by mentioning wike's name.
Ameachi should tell us what he did with the #495 billion budgeted for this year. Which projects are there that he is borrowing or ploughing back according to Mr olu to complete.He is just withdrawing the money to enrich himself before he leaves office.


#Less I forget Team Nyesom Wike For Governor# For a better and more developed rivers. Wike 2015

StarBoard:

Vote out a governor who is in his second term.
You must have been very intelligent in your former life as a toad

tobtap:

wike is just a rich political agbero....rivers state deserves someone better

SeunEatsGARRI:


And Goodluck Jonathan remains my mentor!

aguizm:
U are definitely high on some cheap weeds by mentioning wike's name.
Ameachi should tell us what he did with the #495 billion budgeted for this year. Which projects are there that he is borrowing or ploughing back according to Mr olu to complete.He is just withdrawing the money to enrich himself before he leaves office.


#Less I forget Team Nyesom Wike For Governor# For a better and more developed rivers. Wike 2015

akpur1:
Dont be deceived which contract do they want to complete when 2015 is by the corner. A.P.C need funds for election na FORMAT amaechi dey use. After the approval still look at the project he said he would use the money for then you will would see incomplete jobs.

chrisxxx:
Dont be fooled. There was no saving in the first place. The dramatic and simulated withdrawal is just to cover up in case an opposition government takes over. He claimed he saved what about the interest? I am suprised very few people understand the craftiness and antics of this governor. Please there was no saving at all. To prove to you see if you would notice any difference in terms of project executions after the withdrawal.bI weep for Rivers State. This rape is happening before me and I seem powerless. I am afraid to talk so as others too.