Delta Govt Denies Reports Of N40 Billion Loan By Governor Oborevwori
In a statement signed by the state Commissioner for Information, Dr. Michael Osuoza, it categorically denied the claims, stating unequivocally that the Oborevwori administration has not borrowed any funds since coming into office. “The records are there for anybody who cares for the truth to verify,” the statement read.
Clarifying the situation, the government explained that what the Oborevwori administration actually did was to guarantee a N40 billion loan facility for the Association of Local Governments of Nigeria (ALGON). This loan, intended to clear the backlog of unpaid pension liabilities for retired Local Government personnel, is to be repaid over a five-year period through direct debits from the Local Government Councils.
The statement also addressed reports concerning the state’s debt profile, clarifying that the much-discussed N465 billion debt is the cumulative result of previous administrations’ borrowings. The statement emphasized that Governor Oborevwori has demonstrated prudent financial management by adhering to the repayment terms of existing loan agreements, thereby maintaining the state’s credibility in the global financial community.
“Governor Oborevwori deserves commendation, not condemnation, for being a man of honour and integrity,” the statement continued, noting that responsible debt servicing is a hallmark of a well-managed economy, and argued that only a well-run administration can both service its debts and continue to pursue its developmental agenda for the welfare and well-being of its citizens.
He also called on the media to verify their facts before publishing, in accordance with journalistic ethics; even as it reiterated Governor Oborevwori’s commitment to transparency, accountability, and maintaining an open-door policy in the administration of the state.
