Bayelsa Assembly Approve #30b loan Request by Gov. Diri


The Bayelsa State House of Assembly has on Wednesday given express approval of a thirty billion naira loan (N30b) as requested by the governor of the state senator Douye Diri.

The governor’s letter was read on the floor of the state House of Assembly by the clerk requesting them to approve the #30b loan to fast track the ongoing projects in the state.

According to the letter, the money will be used for the three senatorial roads, the outer ring road, AIT/Igbogene road and other major projects in the state.

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 to Journalists in favour of the loan, the Leader of the House Rt. Hon. Monday Bubou Obolo, representing southern Ijaw constituency 1, said everybody in the state is aware of number of projects that are ongoing by the current governor and it will be ideal if the house approves the loan so that development can get to the hinterlands to unlock their economic potentials of the state.

Other speakers include; Rt. Hon. Tonye Emmanuel Isenah of kolokuma/opokuma constituency 1, Hon. Barr. Tare Porri of Ekeremor constituency 1, Hon. Koku Obiyai among others all spoke in favour of the loan, stressing that if given approval the loan will help to fast development in the state because Bayelsa is in a hurry to develop.

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The speaker of the House, Rt. Hon. Abraham Ingobere said the loan is for the development of the state which cut across the three senatorial districts.

The speaker described the governor as a prudent man who has judiciously used the state resources well. Saying he does not doubt the governor if the money is approved that he will also prudently use it for the benefit of the state.

“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’ salaries will not be affected; pensioners will get what is due them at the end of the month. Nobody salary will be affected hence, we will support the loan and throw our weight behind the governor”.

The House in one voice unanimously approve the #30b loan to be sourced through commercial banks or capital markets through bond.

The loan will be repaid through the thirteen percent derivation fund accruable to the state.

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