News
Delta Govt Denies Borrowing Money From Any Source
Delta State Commissioner for Information, Dr Ifeanyi Osuoza, has said that the state government has not borrowed money from any source since inception on May 29, 2023.
In a statement issued to newsmen on Tueday in Asaba, Osuoza said the clarification became imperative to correct the misleading online report that the governor borrowed N40 billion immediately he assumed office.
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He said the governor only guaranteed a N40b loan facility for the Association of Local Government of Nigeria (ALGON), to enable members offset the unpaid pension liabilities of retired Local Government personnel.
He said that the said loan was repayable over a five-year period through direct debits from the Local Government Councils.
He described the report alleging that the state government had borrowed money as not only misleading, but also capable of creating misunderstanding and confusion.
“For the avoidance of doubt, I wish to state categorically that the Delta government did not borrow N40 billion.
“The Gov Sheriff Oborevwori administration has not borrowed any dime. The records are there for anybody who cares for the truth, to verify,” he said.
The commissioner said that the N465 billion state debt was the existing debt profile accumulated by previous administrations.
According to Osuoza, the governor is a prudent manager of resources and is committed to keeping to the terms of repayment as specified in the agreements.
“Debt servicing and repayment improves the credibility of any administration in the global financial community. It is the only way we can enjoy the respect and support of financial institutions.
“It is only a well run economy that can embark on debt servicing and still maintain its developmental vision and focus for the welfare and well being of its citizens. The Oborevwori administration has continued to do this.”
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He, however, appealed to the media, as strategic partners of development, to always cross check their facts, as the ethics of the profession demands.
He added that the governor had maintained an open door policy and was committed to transparency and accountability in the administration of the state.
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