President of Centre for Convention on Democratic Integrity, a non-governmental organisation, Comrade Olufemi Aduwo, on Sunday said Rivers State Governor, Siminalayi Fubara, is being targeted by false debt narrative aimed at smearing him.
Aduwo premised his assertions on records from the Debt Management Office (DMO) which reveals that Rivers State’s domestic debt stood at N389.20 billion as at June 2023, debt, which significantly predates Governor Fubara’s administration.
The civil society leader however stated that the assertion by an online publication that Governor Siminalayi Fubara increased Rivers State’s debt from N5 billion to N213 billion within a year has been dismissed as a distortion of facts.
Aduwo emphasised that state governments are constitutionally allowed to borrow, provided such funds are directed toward developmental projects.
He cited Lagos State, Nigeria’s wealthiest state, as a prime example. Despite being the most indebted,…
Source: Thisday Newspaper