Delta Assembly approves N4bn loan request

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4 years ago

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The Delta State House of Assembly, on Tuesday, in Asaba, at plenary, approved the Delta State Governor, Ifeanyi Okowa’s request of N4 billion naira ‘Bridging Finance Facility’ from Zenith Bank PLC.

In a letter sent to the house, the governor drew the attention of the house to the expected tranche of quarterly refunds from the Federal Account Allocation Committee (FAAC), being the state’s share of 13 per cent derivation, credited to the Excess Crude Funds, utilised by the Federal Government without remitting same to the oil-producing states.

He added that while awaiting the refunds, there was an urgent need to galvanise contractors towards completing and achieving significant milestone in respect of on-going legacy projects for the benefit of all Deltans.

Sequel to the above, the governor said that the State Executive Council (EXCO) at its 6th meeting, held on Tuesday, May 18, 2021, considered and approved that the state government obtain an N4 billion bridging finance loan facility from Zenith Bank PLC at favourable terms and conditions.

The governor, therefore, sought the authorisation of the members of the house to accept the loan facility from Zenith Bank PLC and issue an appropriate irrevocable standing payment order (ISPO) in favour of the bank to defray the loan.

In a related development, the lawmakers have equally received a letter of nomination of Mr Henry Onwordi Idama for appointment as Director-General, Delta State Water Sector Regulatory Commission from the state Governor.

Mr Idama, an engineer, is to appear for screening on Tuesday, July 6, 2021, at 10.00 am.

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VERDICT: MISLEADING! UNICEF in its report explained that though there are different kinds of risks and harms that have been linked to children’s exposure to pornography but there is ‘no consensus’ on the ‘degree’ to which pornography is harmful to children.Delta Assembly approves N4bn loan request

Delta Assembly approves N4bn loan request