CLO Urges Bayelsa Govt to Shelve 60m Euros Loan

The Civil Liberties Organisation (CLO) in Bayelsa has urged state government to shelve the 60 million Euros loan facility, being contemplated by the administration.
This advice is contained in a statement signed by its Chairman, Chief Nengi James, in Yenagoa on Sunday.
Gov. Seriake Dickson of Bayelsa had received the approval of the Bayelsa State House of Assembly to secure a 60 million Euros facility from the Polish Government.
The fund is required to finance a Maritime Academy in Opoama, Brass Local Government Area.
It stated that although the construction of a maritime academy was desirable, it could be financed from the revenue accruing to the state through budgetary appropriations.
According to the statement, the facility will further worsen the debt profile of the state and enslave future generations with higher debt burdens.