Delta State House Of Assembly Approves Okowa’s Request of N150bn Credit Facility





The Delta State House of Assembly, on Tuesday approved a request by  Gov. Ifeanyi Okowa for a bridging finance facility of N150 billion in favour of the state government.

The governor’s request  is contained in a letter which was read at  plenary of the assembly by the Speaker, Chief Sheriff Oborevwori in Asaba.

Okowa said: the requested credit facility which has Zenith Bank PLC as the “lead arranger, would be principally tailored toward defraying arrears of unpaid certificates earned by contractors with respect to completion of some critical ongoing legacy projects awarded by past and present administrations in the state.

The governor also said that part of the loan would be tailored toward taking care of outstanding pension commitments to the state and local government areas  pensions in the contributory pension scheme, amounting to N20 billion and N10 billion respectively.

“The  speaker and members of the state house of assembly, I wish to inform you that the state is expecting refund from the Federal Government, being Petroleum Subsidy Payments made without recourse to the 13 per cent derivation due to oil producing states from January 1999 to  Nov. 30, 2021.

“Delta state’s portion in this regard amounted to N270.6 billion.

“Bearing in mind the administration’s resolve to finish strong, it is necessary for the state to capitalise on the refund to defray arrears of unpaid certificates earned by contractors with respect to completion of some critical ongoing legacy projects awarded by past and present administrations” the governor said.

Consequently, the motion for the approval of the credit facility was moved by the Majority leader of the assembly, Chief Ferguson Onwo.

The motion which was unanimously adopted by the house, assembly when put to a voice vote by the speaker, was seconded by the Chief Whip,  Mrs  Pat Ajudua.

Popular posts from this blog

Fuel Scarcity Palava As North West Policemen Brutalise DBS Asaba Press Crew

Image
  Three personnel of Delta Broadcasting Service (DBS), Asaba, who were observing, long vehicular queues occasioned by the scarcity of Premium Motor Spirit (PMS) popularly known as petrol were brutally attacked by the men of the Nigerian Police at the North West Filling Station on Mariam Banagida Way, in Asaba the State Capital. The team of the media crew, led by the Manager News and Current Affairs, Comrade Eddy Akpati Ogude were held captive by the men of the Nigerian Police Force, who were angered by the press team’s monitoring of shady activities at the filling station. Some of the police officers, who hunted one of the Journalists, Miss Eunice Emeyazi, attacked her, destroyed her phone and video camera while she was able to escape with physical injuries. Relating her ordeal in the hands of the police, Miss Emeyazia indicated that it took the effort of a good-spirited citizen, who noticed her being brutalised, quickly opened his moving vehicle for her to escape. Emey...
Read more

2023: CAN's Rejection Of Muslim-Muslim Ticket Godly, Church Leaders Should Speak Out - Yakubu Dogara

Image
Former Speaker of the House of Representatives, Yakubu Dogara, has thrown his weight behind of the Christian Association of Nigeria (CAN) which rejected the Muslim-Muslim ticket of the ruling All Progressives Congress (APC). Dogara said the position of CAN is the position of God as adopting a Muslim-Muslim ticket in a diverse country like Nigeria is a recipe for disunity and disaster. He spoke on Wednesday, July 27, 2022, at the 12th General Assembly and Leadership Transition Ceremony and Symposium on the Role of Christian Women and Youths in Politics, organised by the Christian Association of Nigeria in Abuja. “The position taken by CAN is not only CAN’s position, it is not only the position of notable Christian leaders like Babachir David Lawal, the former Secretary to the Government of the Federation and many others who have spoken againts it, it is also God’s position because we serve the God of justice, our God is righteous, our God is the author of diversity, and He w...
Read more

BREAKING NEWS : Ovrode Community Shuts Down Ughelli/Asaba Express Way

Image
The Residents of Ovrode Community in Isoko North Local Government Area of Delta State, has shutdown Ughelli/Asaba expressway in a renewed protest over negligence of the community by State and Federal Governments.   The protesters comprise of men, women and youths besieged the Ughelli/Asaba expressway for hours with placards bearing various inscription such as, “Ovrode is bleeding, “No Federal and State Government projects in Ovrode Community”, “Our Grammar school is in a bad shape, no teachers and  no chairs”, “No Constituency projects in Ovrode Community,” “Oil exploration in our community since 1963 till date , nothing to show for it”, among others.  Addressing newsmen at the scene of the protest,  the President General of Ovrode Community,  Mr Felix Efedhoma said,  both State and Federal Government has abandoned Ovrode Community despite being an Oil producing Community since 1963 till date. In his words; “Ovrode as an Oil producing Community ...
Read more