Cross Rivers state Government has sought approval of State Assembly for N648 billion loan for the construction of Superhighway which will take a period of 180 years for repayment.
This was made known in a statement issued by BudgIT made available to newsmen.
According to the loan Conditions, there will be Standing Payment Order of N300 million monthly deduction from state government account .
BudgIT revealed that at present Cross River has the 4th largest external debt due to obsession with phantom projects adding that As of Dec 31, 2018, its debt stood at N167.96 BILLION.
