Lauds Governor Oborevwori for Responsible Financial Management
By Sunday Apah
The Delta State Government has firmly rejected claims circulating on various online platforms that Governor Sheriff Oborevwori secured a loan of N40 billion shortly after taking office.
The State Government describe these reports as misleading and potentially damaging, as they could foster misunderstanding and confusion within the state.
In a statement released by Dr. Ifeanyi Osuoza, the Commissioner for Information, the government clarified that no such borrowing has occurred.
“To set the record straight, the Delta State Government has not borrowed N40 billion,” Osuoza emphasized.
He further explained, “The Oborevwori administration has not taken on any financial debt. What has happened is that the administration provided a guarantee for a N40 billion loan facility for the Association of Local Governments of Nigeria (ALGON).
“This loan is intended to assist in settling outstanding pension liabilities for retired local government employees and is structured to be repaid over five years through direct deductions from the Local Government Councils.”
Osuoza also noted that the alleged N465 billion debt cited in reports actually reflects the cumulative debt incurred by previous administrations in the state.
He concluded by commending Governor Oborevwori for his prudent resource management.
“As many can attest, he is a responsible steward of public funds and has adhered to the repayment terms outlined in the loan agreements.
“The governor deserves recognition for his integrity and commitment to the state’s financial health, rather than criticism.
“Effective debt servicing and repayment enhance the credibility of any administration in the global financial arena, establishing it as serious and progressive.
“Such practices foster respect and support from financial institutions. A well-managed economy can successfully engage in debt servicing while still pursuing its developmental goals and prioritizing the welfare of its citizens, as demonstrated by the Oborevwori administration.
“Additionally, I urge media outlets, as vital partners in development, to diligently verify their information in accordance with professional ethics before publishing.
“It is essential to ensure accuracy in reporting. I also want to emphasize that Governor Oborevwori is committed to an open-door policy, prioritizing transparency and accountability in the governance of the state,” it added.
