December 01, (THEWILL) – A civil society leader, Comrade Olufemi Aduwo, has debunked allegations that Governor Siminalayi Fubara of Rivers State increased the state’s debt from N5 billion to N213 billion within a year.
Aduwo, who serves as the Permanent Representative of the Centre for Convention on Democratic Integrity to the United Nations, described the claims as grossly misleading.
In a statement issued on Sunday titled “Fubara’s Fiscal Prudence: Debunking Misleading Claims About Rivers’ Debt”, Aduwo clarified that records from the Debt Management Office place Rivers State’s domestic debt at N389.20 billion as of June 2023, a figure that predates Fubara’s administration.
Aduwo asserted that the right to borrow is enshrined in the Nigerian Constitution, provided such funds are used for developmental purposes.
Drawing a parallel with Lagos State, Nigeria’s most indebted state, Aduwo highlighted that efficient resource management and impactful projects can justify borrowing.
He noted that the only loan secured by the Fubara administration so far is for the Ring Road project, a critical infrastructure initiative aimed at enhancing economic growth and connectivity.
Aduwo commended Fubara for ensuring the loan was already being serviced, demonstrating fiscal responsibility.
The CCDI representative condemned the online publication’s narrative, describing it as a politically motivated attempt to undermine the governor’s administration.
He urged journalists and media outlets to verify claims through credible sources like the DMO, the Central Bank of Nigeria, and the African Development Bank before publishing.
“Failing to verify facts not only misleads the public but also undermines the principles of responsible journalism,” Aduwo stated.
Aduwo argued that attributing debts incurred before Fubara’s tenure to his administration is both unjust and dishonest.
He urged the media to focus on transparency and factual reporting, free from political bias or sensationalism, adding that the people of Rivers State deserve clarity on issues affecting governance and development.
Anthony Awunor, is a business correspondent who holds a Bachelor of Arts Degree in Linguistics (UNILAG). He is also an alumnus of the Nigerian College of Aviation Technology (NCAT), Zaria Kaduna State. He lives in Lagos.
