Delta Govt Denies Seeking N100bn Loan

The Delta State Government says it is not seeking a new N100 billion loan, describing reports about such claims as misinformation.

The Commissioner for Finance, Fidelis Tilije, in a statement on Monday, explained that the state government had previously received approval from the House of Assembly to obtain N150 billion in bridging finance.

He added that the fund was later reduced to N100 billion after discussions with finance houses involved.


According to Tilije, a new leading finance agent emerged and due to Governor Ifeanyi Okowa’s adherence to what he described as the proper procedure, the government sought fresh approval from the House of Assembly.

He confirmed that the N100 billion discounting facility is the same amount that had been previously discussed, adding that the state government went back to the House of Assembly to change the lead bank.


“The N20 billion loan is for investment by the state government in a floating gas company in Warri and is expected to provide jobs and increase the state’s revenue.

“The commissioner commended journalists for their objectivity and accused the APC of spreading lies. The state government remains committed to transparency and accountability,” Tilije said.

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