Cross River Lawmakers have granted approval to the State Government to accept credit facilities amounting to N35b to enhance the industrialization of the State.
The Lawmakers granted approval for the State Government to accept a credit facility of N15B , fifteen billion naira, from UBA, N10B, ten billion naira, from Zenith Bank as well as another N10B, ten billion naira, from first Bank plc for the execution of its infrastructural projects.
In a report, the House Committee on Finance and Appropriation observed that “since the inception of the present administration in 2015, there was an express desire to industrialize the State and develop critical infrastructures.”
Hon Sunday Achunekang, Member representing Obanliku and Chairman of the Appropriation Committee further observed that work on major roads and industries initiated by the Ayade administration has stopped due to the State’s low resources adding that “the prospect of the projects becoming abandoned is high if nothing is done”.
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