By Abiola Olawale
Governor Siminalayi Fubara of Rivers State has begun to reveal the details of the debts incurred by the state under the administration of his predecessor, the incumbent Minister of the Federal Capital Territory (FCT), Chief Nyesom Wike.
Fubara, while presenting an Account of Stewardship and Scorecard to mark the first anniversary of his administration at the Dr. Obi Wali International Conference Centre in Port Harcourt on Wednesday, May 29, 2024, disclosed that his government inherited 34 uncompleted projects, valued at over N225.279bn across 13 local government areas of the state.
He revealed that when his administration came on board, several contractors, who executed the 34 projects, came to meet him for the payment of their services.
Fubara stated that though he inherited a state, whose economy was on a declining trajectory, despite its growth potential, his administration has been able to change the narrative for better.
He added that his administration had awarded nine new road projects, valued at N534.332bn.
The governor said: “We started this journey with a bang. We were focused. We were determined to make the change we promised with a sense of urgency.
“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 said many things had changed in the political landscape, noting that he remained committed to his covenant to put Rivers State first, defend her interest, and ensure that the people got the dividend of democracy and good governance.
“For us, any government worth its name must be accountable, responsive, and responsible for the security and well-being of the people,” Fubara said.
“Having managed the affairs of our State for one year, including dispensing public resources, it is only proper that we render account with a public presentation of our performance record.
“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.”
The governor said he set up an Internally Generated Revenue (IGR)/Investment Advisory Committee that he chairs, 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 (CoO) 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, 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 a 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.”
