Governor Siminalayi Fubara of Rivers State on Tuesday, revealed that the state is heavily in debt.
He said his administration inherited a huge debt profile from the administration of his predecessor, Nyesom Wike.
He made this known during the commissioning of the Aleto-Ogale-Ebubu-Eteo Road, (also known as Old Bori Road in the Eleme Local Government Area of the state.
He said most of the projects commissioned by Wike before he exited office were not fully paid for, adding that contractors are still coming for their balance payments running into millions and billions.
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He said: โMy story as a person will not be complete if Eleme is not mentioned, that is the truth. Maybe, if I have not started from Eleme, I will not get to Level 14.
โAt least I started here before I got to Level 14.
โAnd for the records, this contract was awarded to CCECC on the 14th of August 2023 not by โIโ but by this administration and as we go further, we will be going with a White Paper showing the record and amounts this project was awarded.
โThis project was awarded at N6.7bn and I can say boldly no kobo is remaining, we have paid the contractor completely without owing. The purpose of this is to let the world know that if there is one problem this administration has it is debts.
โMost of the projects commissioned (by the last administration), the contractors are still coming for their balance payments running into millions and billions. I have said I donโt want to talk because I am part of that system but when they keep pushing me, I will say it so that we will see the nyansh of the fowl.
โBut let us leave that one until when they are ready, we will also be ready. The small one we are doing now, they are not sleeping, I wonder what will happen when we do the big one.
โThe Problem we have is accumulated debts from the past government.โ
