Fubara not to blame for Rivers debt – Group

Leader of a civil society group, Comrade Olufemi Aduwo, has dismissed claims made by an online publication that Governor Siminalayi Fubara increased Rivers State’s debt from N5 billion to N213 billion within a year.

He said records from the Debt Management Office (DMO) indicate that Rivers State’s domestic debt was N389.20 billion as of June 2023, a figure that predates Fubara’s administration.

Aduwo explained that state governments are constitutionally permitted to borrow for developmental projects, using Lagos State as an example.

In a communiqué, he said while Lagos has the highest debt in Nigeria, its resource management justifies its borrowing.

He noted that Fubara’s only loan, taken out for the Ring Road project, aims to enhance economic growth and is currently being serviced responsibly.

“Similarly, Fubara’s only loan—secured so far—was for the Ring Road project, which is a vital infrastructure initiative designed to boost economic growth and connectivity.

“The loan is already being serviced, reflecting his commitment to fiscal responsibility,” the statement read.

Aduwo also criticised what he described as politically motivated attacks on Fubara’s administration, urging media outlets to avoid sensationalism and prioritize accurate reporting.

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He recommended that publications consult credible institutions such as the DMO, Central Bank of Nigeria (CBN), and the African Development Bank for clarification on Rivers State’s debt situation.

He said, “It is unjust to link Fubara to debts incurred before his tenure, calling such assertions dishonest and a diversion from addressing genuine developmental issues.”

He stressed that the residents of Rivers State deserve fair and factual reporting.