News
December 1, 2024 by
Our Reporter
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.
According to Comrade Olufemi Aduwo, a prominent civil society leader with ties to the United Nations and the World Bank, records from the Debt Management Office (DMO) reveal that Rivers’ domestic debt stood at N389.20 billion as of June 2023.
This debt, he said, significantly predates the Fubara administration.
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.
According to him, despite being the most indebted, Lagos’s resource management and developmental strides justify its borrowing.
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“Similarly, Fubara’s only loan 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.”
Aduwo noted that Fubara has faced considerable persecution since taking office, with politically motivated attacks targeting his administration.
He criticised the sensationalism of certain media outlets, calling for public discourse to be grounded in accuracy and fairness rather than misinformation.
He urged the publication to consult credible institutions such as the DMO, the Central Bank of Nigeria (CBN), and the African Development Bank for clarification on Rivers’ debt profile.
Aduwo warned that failing to verify facts risks misleading the public and damaging the credibility of responsible journalism.
In a statement, Aduwo declared it unjust to link Fubara to debts incurred before his tenure.
He described such claims as dishonest and distracting from real developmental challenges.
Aduwo urged the media to prioritise facts over political undertones and sensationalism.
He noted that the people of Rivers deserve transparent and fair reporting.