Governor Fubara

The Governor of Rivers State, Sir Siminalayi Fubara, recently disclosed the financial constraints faced by his administration due to the debts incurred from projects initiated by his predecessor, Chief Nyesom Wike. This revelation came to light during the commissioning of the Ebubu-Aleto-Eteo road project in Eleme Local Government Area, an event graced by the Governor of Abia State, Alex Otti.

Debt Burden from Unpaid ProjectsGovernor FubaraGovernor Fubara

Governor Fubara lamented that numerous contractors remain unpaid for the projects constructed and commissioned under Wike’s administration. He expressed frustration that these outstanding payments are now pressing heavily on the current government’s finances, highlighting that many firms are actively seeking their due payments from his administration.

During the event, Governor Fubara emphasized the importance of transparency in his administration. He assured the public that a comprehensive white paper detailing the costs of each project undertaken by his government would be made available. This move aims to maintain accountability and provide clarity on the financial status of state projects.

Transparency as the Administration’s Cornerstone

The Governor’s commitment to transparency was underscored by his declaration that his administration had fully paid for the Ebubu-Aleto-Eteo project, which was awarded to the Chinese Civil Engineering Construction Corporation (CCECC) on August 14th at the cost of N6.7 billion. By settling this payment in full, Governor Fubara intends to set a precedent for fiscal responsibility and clear the state’s name from the legacy of unpaid debts.

Inherited Debts: A Significant Challenge

Governor Fubara candidly addressed the major challenge his administration is currently facing—the substantial debts inherited from Wike’s projects. While he acknowledged his previous role in Wike’s administration, he expressed frustration at being pushed to a point where he felt compelled to reveal the financial mismanagement that occurred. He stated, “For the records, it was awarded to CCECC. It was awarded on the 14th of August by this administration. As we are going further, we will be going with a white paper to show records and amounts. The project was awarded at the cost of N6.7 billion. I can say boldly that we have paid the contractor completely.”

The Strain of Outstanding Payments

Governor Fubara further highlighted that the recurring issue of contractors seeking their balance payments for previously commissioned projects is causing a significant financial strain on his administration. He noted that the amounts owed run into millions and billions, making it a pressing concern for the state’s financial stability.

“I have said I don’t want to talk. I don’t want to talk because I am part of that system but when you keep pushing me, I will say it so that they will see the yansh of the fowl,” Governor Fubara remarked, using a local idiom to underscore his frustration and the need for transparency.

Fubara’s Vision for Financial Integrity

Governor Fubara’s administration is determined to establish a culture of financial integrity and accountability. By openly discussing the debts left by the previous administration and committing to full payment for all current projects, Fubara aims to rebuild trust with contractors and the public. His approach seeks to ensure that all future projects are managed with fiscal responsibility, avoiding the pitfalls of unpaid debts.

Looking Ahead: Strategic Financial Management

Moving forward, Governor Fubara’s administration plans to implement strategic financial management practices to prevent the recurrence of such debt issues. This includes thorough vetting of project costs, timely payments to contractors, and regular public disclosures of financial dealings. By doing so, the administration hopes to foster a sustainable economic environment for the state.

Impact on Public Perception

The Governor’s candidness and proactive measures are likely to have a positive impact on public perception. By addressing these financial issues head-on and promoting transparency, Governor Fubara is positioning his administration as one committed to accountability and responsible governance. This approach is expected to garner public support and restore confidence in the state’s leadership.

Conclusion: A Path to Recovery and Growth

In conclusion, Governor Siminalayi Fubara’s revelation of the financial burdens left by his predecessor underscores the significant challenges his administration faces. However, his commitment to transparency, full payment of contractors, and strategic financial management provides a clear path towards recovery and sustainable growth for Rivers State. By fostering a culture of accountability and fiscal responsibility, Governor Fubara aims to ensure that the state can overcome its current challenges and achieve long-term prosperity.

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