The request for N18 billion loan by Rivers State Governor, Nyesom Wike, has been approved by the Rivers State House of Assembly.
The governor had in a letter to the lawmakers requested them to approve the loan facility from Access Bank.
On Monday, the assembly Speaker, Ikunyi Ibani read out the letter to the lawmakers during their planary.
In the letter, Wike said the loan, meant to be fully repaid before the end of his tenure in 2023, would be serviced by the internally generated revenue of the state.
According to Wike, the money would be used for the furtherance of ongoing developmental projects in the state including the construction of the fourth flyover at GRA junction, dualization of the Mummy B to Stadium road, dualization of Tombia to Ikwerre road and payment of ancil facilities and properties to be destroyed in course of the projects.
After hearing the content of the letter, 25 lawmakers who were present at the sitting voted in favour of the request when it was put to vote by the speaker.
The lawmakers, thereafter, adjourned sitting to August 18, 2020.
