Nigeria: Rivers Seeks N25bn Loan for Road Projects, Others

28 September 2021

The Rivers State Government has requested a loan of N25 billion from Zenith Bank to fund road and other projects across the state.

The Commissioner for Information and Communications, Paulinus Nsirim, disclosed this Monday after the state's executive council meeting presided over by Governor Nyesom Wike in Port Harcourt.

He said the loan would be repaid in 18 months with the state's internally-generated revenue (IGR).

Nsirim said projects to be funded with the loan included the Nabo Graham-Douglas campus of the Nigerian Law School at Rumueme, Port Harcourt; the Chokocho-Igbodo Road in Etche Local Government Area and the Oyigbo-Afam Road in Oyigbo Local Government Area.

Others are the construction of new Magistrate courts, judicial training institute and the Rumuokwurusi-Elimgbu flyover.

He described the projects as people-oriented that would further enhance development across the state.

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