Rivers Government says it owes only N81bn

The debt profile of the Rivers State government has been pegged at 81 billion naira.

This is according to the State Commissioner for Information and Communication, Ibim Semenitari, who disclosed this while interacting with newsmen in Port Harcourt.

Semenitari, who debunked insinuations that the state government under Governor Amaechi had continued to incurre debt running into over 300billion naira, said critics lacked understanding of how loans and bonds work.
She noted that the recently approved loan by the State House of Assembly for the Governor was pending loan that was part of the 2014 budget.

The Commissioner also disclosed that the said loan was yet to be assessed by the state Government.

“I have heard all kinds of ridiculous things with regards to the debt. The Rivers State government does not owe anything in the region of 300 or whatever that I have seen published.

“That does not exist. Our records are very clear on that matter.
“As at August 2014, the debt profile of the government of Rivers State was 81 billion in Bank loans.

“Every month, the Rivers State government pays back a minimum of 11 billion, therefore we will not be leaving loans for the next government. And indeed, if at all, it will be very minimal.

“I wonder where they get their calculations from. All of you were aware when we went to the House of Assembly to seek approval for 100 billion and they granted it.

“After the Assembly approves, you still cannot draw the money except Assembly approves.
“As at today, the government of Rivers state has not drawn one kobo from that loan”, she said.

The Rivers State House of Assembly had approved a fifty billion naira loan to aide infrastructural development in the state.

The assembly also approved two billion naira for medium and small scale enterprise development from the Central Bank of Nigeria, CBN

http://247nigerianewsupdate.co/rivers-government-says-it-owes-only-n81bn/

Only in PDP will this shît happen.

OP, The DMO has the debt of all the states. Rivers owes 81billion and are capable of paying it. Tell me what your own state owes.