Pending the approval of the Nigeria Senate, the government of Rivers State have received 78 billion naira from the President Buhari led Federal Government.
The sum Is another tranche of refunds to five state Governments across the country for Federal Highway projects carried out by the various state governors.
According to the letter, the refund would be carried out in form of promissory notes payable to five states for the rehabilitation of federal highways. A breakdown shows that of the said amount, Rivers State will collect the highest amount of N78.9 billion; followed by Bayelsa State with N38.4 billion. Other beneficiaries include Cross River to get N18.3 billion; Ondo State has N7.8 billion and Osun State with N4.5billion. The letter was titled ‘Request for Resolution of the National Assembly for Approval of the Reimbursement of N148.14 billion through the Issuance of Promissory Notes to Bayelsa, Cross River, Ondo, Osun and Rivers State Governments for Federal Road Projects Executed by the States.’
According to the letter, “the Senate may wish to be informed that the Federal Executive Council, FEC, at its meeting of June 3, approved the reimbursement of N148.14 billion through the issuance of promissory notes to Bayelsa, Cross River, Ondo, Osun and Rivers States Government for the federal road projects executed by the states. “The approval by FEC was subsequent to the recommendation by an inter-ministerial committee which reviewed the request for reimbursement made by the state governments for the projects.