Delta defends N150bn loan

Delta State Government has said it is seeking approval for a N150bn loan from the State House of Assembly as a discounting facility.

The Delta State House of Assembly had on Tuesday approved N150bn following a letter written by Governor Ifeanyi Okowa to the parliament, seeking approval for the bridging finance facility. He said, “This administration resolved 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 the completion of some critical ongoing legacy projects awarded by past and present administrations.

This is so wrong, if the current Delt Govt can not complete projects initiated prior to starting them. Better to leave the project for the next administration. The new oil derivation of 13%, no plan for it. 1st allocation is to pay debt, no long term investment plan

Set awon looters... the last supper... the final year in power... they will statt paying their cronies for white elephant projects, pay themselves pensions in advance all about investment in upcoming elections etc etc with borrowed funds... God PUNISH you all

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