The Rivers State House of Assembly has approved a request by Governor Chibuike Amaechi to withdraw N30 billion from the state’s reserve fund to finance projects in the state.
The approval followed the passage of the passage of the Rivers State Reserve Fund Law (Amendment) Bill 2014 by the assembly in its resumed sitting on Wednesday February 12th 2014.
The Assembly, which sat at the Old Executive Chambers, Government House, Port Harcourt, considered the report of the ad hoc committee on the Rivers State Reserve Fund Law (Amendment) Bill, 2014 submitted by the committee chairman, Chidi Lloyd.
Lloyd, in presenting the report, said the state reserve fund made up of the N1 billion monthly savings of the state, had grown to about N53 billion.
