The Rivers State government under the administration of former Governor Nyesom Wike, and the incumbent Governor Sim Fubara, reportedly accumulated debts from N5,225,575,493.20 to N213,902,344,833.33 within a period of 12 months.
According to Saharareporters, the 2023 audit report of the state revealed that the state entered 2023 with an opening debt balance of N5,225,575,493.20 in Zenith Bank but in 12 months, which is the period of a year ending on December 31, 2023, the state borrowed a total sum of N213,902,344,833.33, all from Zenith Bank.
The audit report further revealed that at the end of the year 2023 ending on December 31, the total debt of the state stood at N342billion.
