Fubara Reveals Inheriting Massive Debt from Previous Administration

By Jemimah Wellington, JKNMedia Reporter

RIVERS STATE Governor Siminalayi Fubara has brought to the fore a significant issue which he said has been shadowing his administration. He said it is the formidable debt left behind by the previous government.

He made the disclosure during the inauguration ceremony of the reconstructed 10.89KM Aleto-Ogale-Ebubu-Eteo Road in Eleme Local Government Area.

Addressing attendees at Ebubu community, Fubara disclosed the alarming scale of outstanding payments owed to numerous contractors, shifting the focus from infrastructure to fiscal accountability.

Speaking to the gathered crowd, Fubara also revealed the stark reality of the financial burden inherited by his administration, noting that contrary to the public perception of a clean financial record with contractors, he unveiled the enormity of outstanding payments, which amounted to billions in total.

He said the revelation underscored the transparency and accountability principles upheld by his administration.

“This administration grapples with a significant debt burden, far beyond what was previously understood. Many completed projects now demand substantial payments to contractors, amounting to billions,” Fubara emphasized.

Despite the weight of this financial challenge, Fubara also expressed his pleasure at inaugurating the road project in Eleme, a place of personal significance where he commenced his professional journey.

Awarded to the China Civil Engineering Construction Corporation (CCECC) on August 14, 2023, for N6.7 billion, the reconstructed road symbolized the administration’s commitment to development amidst adversity.

“I am delighted to mark our first anniversary in office with the inauguration of this vital project. Despite numerous financial hurdles, we remain resolute in fulfilling our promises,” Fubara remarked.

Highlighting the road’s importance, Fubara emphasized its role as a crucial bypass, enabling motorists to avoid deteriorating sections of the East-West Road.

This not only facilitated local transportation but also supported federal government initiatives aimed at enhancing national infrastructure and citizens’ well-being.

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