‘We Inherited 34 Uncompleted Projects, Over N225bn Debt From Wike’ — Rivers Governor, Fubara Says | MarvelTvUpdates

‘We Inherited 34 Uncompleted Projects, Over N225bn Debt From Wike’ — Rivers Governor, Fubara Says | MarvelTvUpdates

Rivers state governor, Siminalayi Fubara, has said that his administration inherited 34 uncompleted projects from his predecessor, Nyesom Wike.

According to Fubara, the projects are valued at over N225.28 billion across 13 local government areas of the state.

The governor further said that under his administration awarded nine new road projects, valued at N534.332 billion. 

He described the ongoing political crisis in the state as a vicious war against his administration but said the worst was over.

The governor said his administration had successfully defended the rights and privileges to govern the state and advanced its progress in liberty and freedom without compromise.

Fubara spoke while presenting an account of stewardship and scorecard to mark the first anniversary of his administration in Port Harcourt on Wednesday, May 29.

“We started this journey with a bang. We were focused. We were determined to make the change we promised with a sense of urgency,” Fubara said.

“But then, somehow, we suddenly found ourselves in the cesspit of crisis barely three months into our tenure. It was not just an ordinary political crisis. It was a vicious existential crisis.

“But thank goodness, the worst is over. We have successfully defended our rights and opportunity to govern our State and advance its progress in freedom, and we will continue to prevail.”

Fubara restated his commitment to put Rivers State first, defend her interest, and ensure that the people get the dividends of democracy and good governance.

“I am, therefore, pleased to stand before you to present our scorecard for the first year we have been in office as the executive arm of the government of Rivers State.”

 Fubara recalled his promise to deliver on the core priorities of economic growth, infrastructure, healthcare, education, and agriculture, contained in his blueprint expressing his determination to build a virile, resilient, and progressive state that catered to the needs of the people.

The governor said he was proud to report that, despite the unprecedented challenges, his first one year in office had witnessed significant achievements visible to everybody.

Fubara particularly said that he inherited a state, whose economy was on a declining trajectory despite its growth potential, but within one year of his administration, the negative narrative had changed for the better.

The governor said he set up an Internally Generated Revenue (IGR)/Investment Advisory Committee that he chaired to coordinate activities in the sector leading to increased inflow of economic investments to the state.

He said: “We also needed to attract investments into the State and increase our internally generated revenue base as too much reliance on federal allocations was a challenge to the realisation of our development goals.

“We, therefore, set up an IGR/Investment Advisory Committee, which is helping us to navigate our course for increased economic investments and internally generated revenue to accelerate economic growth, create jobs and advance the welfare and well-being of our people.

“Our liberalised business-friendly economic policies and programmes are boosting confidence and attracting local and international investors and investments into the State, judging by the expression of interest offers we receive every month.

“We have kept our taxes low, frozen the imposing of taxes on small businesses across the State, and increased the ease of doing business in the State by eliminating bureaucratic bottlenecks. No request for the signing of a certificate of occupancy remains in my office beyond two days, except if I am otherwise engaged beyond two days or out of town.

“One year down the line, and we believe we are succeeding. Our internally generated revenue witnessed an astronomical increase from N12 billion to between N17 billion in off-peak periods and N28 billion during the peak months.

“We have established an N4 billion matching fund with the Bank of Industry (BOI) to support existing and new micro, small, and medium-sized businesses (MSMEs) to grow their businesses to drive economic growth and create jobs and wealth for citizens. Over 3,000 citizens and residents have applied to access this loan to fund their businesses at a single-digit interest rate, and a repayment period of up to five years.”

The governor expressed his belief in using infrastructure as key to sustainable development, saying he did not abandon the uncompleted projects that he inherited.

The governor also said that 12 of those projects had been completed and put to use while construction work was ongoing on the others.

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