The Rivers State House of Assembly has approved the request of the state governor Chief Nyesom Wike to borrow N9 billion from Zenith Bank Plc.
The Speaker of the House, Rt. Â Hon. Adams Dabotorudima read the request of the governor during plenary on monday, which was unanimously consented to.
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He read, “Request  for approval to access N9 billion loan facility from Zenith Bank Plc. The loan will be secured on the state’s annual dividend earnings of not less than N3.2 billion from our shareholding interest in the Ndorama/Eleme fertilizer and chemical limited, with the effect from the second quarter of 2016 to 2019.
The governor stated that the loan would be spent on capital projects.
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