The Rivers State Government have signed a contract for the construction of Oyigbo-Okoloma road in Oyigbo local government area and the Chokocho-Igbodo road in the Etche local government area.
This was made known by the State Governor, Nyesom Wike, who revealed that ‘construction of the 19.1km Oyigbo-Okoloma Road was awarded to Lubrik Construction Company, while the 27.4km Chokocho-Igbodo Road, was awarded to SETRACO Nigeria Limited.’
“I am glad we are able to fulfil this important promise to our people. Both projects have a contract span of 12 months.”
In Septemeber, the Government led by Governor Wike approved a N25 billion (Twenty Five Billion Naira) loan from Zenith Bank for the funding of the Oyigbo-Afam Road, Chokocho-Igbodo Road, the tenth flyover in Port Harcourt and other projects.
It revealed that the loan would be repaid within eighteen months from the State Internally Generated Revenue (IGR).
This approval was given during the Rivers State Executive Council meeting presided over by Governor Nyesom Ezenwo Wike at the Government House, Port Harcourt, yesterday.
According to Vanguard, the Rivers State Commissioner for Information and Communications, Paulinus Nsirim, said to pressmen that the loan would be used to fund people-oriented projects that would further enhance development in all the nooks and crannies of the State.
Nsirim enumerated that projects to be funded with the loan if obtained included, the Nabo Graham-Douglas Campus of the Nigerian Law School at Rumueme, Port Harcourt, the Chokocho-Igbodo Road in Etche Local Government Area, the Oyigbo-Afam Road in Oyigbo Local Government Area.
Others projects are the construction of new Magistrate courts, construction of Judicial Institute for training of judicial officers in the State that would enhance the justice delivery and the Rumuokwurusi-Elimgbu flyover, which would be the tenth flyover that will be constructed by Governor Wike’s administration.
He said: “This loan has a repayment period of 18 months, with effect from October 2021, and to be completed in April 2023 from the State’s Internally Generated Revenue. The repayment period is N1, 547, 874, 350.66 monthly.
