Admin l Tuesday, January 31, 2023
ASABA, Delta, Nigeria -The Delta State Government has explained that it is not seeking a new N100 billion loan contrary to information in circulation.
In a statement, Commissioner for Finance, Fidelis Tilije explained that the state government the money in question was not a fresh loan.
He said the state government previously received approval from the House of Assembly to obtain N150 billion in bridging finance, but later reduced it to N100 billion after discussions with finance houses involved.
He said that due to Governor Ifeanyi Okowa’s adherence to proper procedure, the government sought fresh approval from the House of Assembly.
According to him, the N100 billion discounting facility is the same amount that had been previously discussed, and the state government went back to the House of Assembly to change the lead bank.
He said N20 billion from the loan is for investment by the state government in a floating gas company in Warri and that it is expected to provide jobs and increase the state’s revenue.