Share this news

Loading

Delta not taking new N100bn loan – Finance Commissioner
The Delta State Government was not taking new loans despite the propaganda of the opposition APC.

The state Commissioner for Finance, Chief Fidelis Tilije, made this clarification today while speaking to reporters in Asaba.
Tilije who was flanked by Information Commissioner Mr Charles Aniagwu and the Chief Press Secretary to the Governor, Olisa Ifeajika said there was no fresh N100 billion.

He observed that the state government had earlier received an approval from the House of Assembly to obtain N150 billion bridging finance from the N240 billion accrued refunds to the state on the 13 per cent Derivation Policy.

He said “I am drawn into this because we are beginning to see some misconceptions, particularly with regards to the N100 billion discounting facility that the state haas taken.

“I recall very vividly too that we have had news conferences where we said that the totality of the amount that we are trying to discount is still the same.

“We intended to take N150 billion as discounting facility from the market. But, when we reviewed the cash inflows, we reduced it to N100 billion.

“It is that same N100 billion that we have to go again to the House of Assembly last week because we found out that the lead agent of the said facility was not moving as fast as we want.

“So, all we did last week was to go back to the House of Assembly to seek their consent to enable us change the lead bank for that discounting facility.

“It is not a new loan, discounting facility nor a new bridging finance. It is still the same N100 billion we have been talking about.

“I know that in certain other states, the need to go to the House of Assembly may not even arise. This is because the responsibility of determining who is a lead agent in such a facility, lies squarely on the Executive.

“But, Senator Ifeanyi Okowa, in his usual manner, felt that whatever alteration we are going to be making, we must still go back to the House of Assembly for consent.

“You will also recall too that while we were here before to brief you on this matter, we itemised all the projects we will be doing with the facility, and we are on course with these projects.

“For those who do not have the details of the projects tied to this discounting facility, they can go to the House of Assembly. It is a public document.”

On the other N20 billion facility, the Finance clarified that it was meant for investment in a floating gas company by the government, adding that project would be situated in Warri.

Speaking, Aniagwu appreciated journalists in the state for their reportage of the government activities.

He maintained that some of the projects listed in the request for the bridging facility were already completed and commissioned.


Share this news