Oborevwori didn’t borrow N40bn, never taken a loan – Delta govt
DELTA State Government, Tuesday, frowned at reports in some online media platforms alleging that Governor Sheriff Oborevwori borrowed the sum of N40 billion soon after he assumed office.
It described the reports as misleading and capable of creating misunderstanding and confusion in the State.
The State Commissioner for Information, Dr. Ifeanyi Osuoza, in a statement,
emphasized that the State Government did not borrow N40 billion and that “the Sheriff Oborevwori administration has not borrowed any dime till now”.
Noting that records were there for anybody who cared for the truth to verify, Osuoza explained: “What the Oborevwori administration did was to graciously guarantee a N40 billion loan facility for ALGON, to enable it offset the unpaid pension liabilities of retired Local Government personnel. Repayable over five years, the loan is to be repaid through direct debits to the Local Government Councils.
“For the umpteen times, let me also state without equivocation that the so-called N465 billion debt amount is the existing debt profile accumulated by previous administrations in the State.
“Governor Oborevwori, as many would testify, is a prudent manager of resources and has done the right thing by keeping to the terms of repayment as specified in the loan agreements. The Governor deserves commendation, not condemnation, for being a man of honour and integrity.
“Debt servicing/repayment improves the credibility of any administration in the global financial community as a serious-minded and progressive administration, which will 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, as the Oborevwori administration has continued to do.
“Meanwhile, I appeal to the media, as strategic partners of development, to always cross check their facts, as the ethics of the profession demands, before rushing to publish.
“I wish to reiterate that Governor Oborevwori maintains an open door policy, and is committed to transparency and accountability in the administration of the State.”
