Rivers State Governor, Sim Fubara, has broken his silence on claims that his administration has increased the state’s external debt from $80 million in 2023 to $203 million in June 2024.
Fubara has denied borrowing any funds for projects, challenging critics, including the Debt Management Office (DMO), to provide evidence of such loans.
Speaking during the inauguration of the reconstructed 11.8-kilometer Okehi-Umuola-Eberi Link Road in Etche Local Government Area, Fubara said that his administration has not taken any loans for projects. He noted that the only loan taken was for the Ring Road project, which is public knowledge.
“I stand to be challenged; this administration has not borrowed to execute projects. The only money we borrowed was the one we used for the Ring Road project, and everybody is aware of it,” Fubara said.
Sources close to the government revealed that the loans in question were actually taken by the immediate past governor for a water project, but were not reported on the DMO website until recently.
Fubara also highlighted his administration’s commitment to providing social services and infrastructure projects despite efforts by detractors to starve the state of funds. He announced that the next 14 days would be used to showcase landmark projects undertaken by his administration, which would transform the socio-economic status of communities in the benefiting local government areas.
