The Delta State Government has refuted reports circulating on online media platforms alleging that Governor Sheriff Oborevwori borrowed N40 billion shortly after assuming office.
In a statement on Tuesday by the Commissioner for Information, Dr. Ifeanyi Osuoza, the state Government described the reports as misleading and capable of creating confusion.
Osuoza in the statement, said the administration of Governor Oborevwori did not borrow N40 billion but instead guaranteed a loan facility of the same amount for the Association of Local Governments of Nigeria (ALGON) to offset unpaid pension liabilities of retired local government personnel. The loan is repayable over a five-year period through direct debits to local government councils.
The statement reads in full:
GOVERNOR SHERIFF OBOREVWORI HAS NOT BORROWED A DIME
The Delta State Government notes with serious concern some reports in some online media platforms alleging that Governor Sheriff Oborevwori borrowed the sum of N40billion soon after assuming office.
The reports are not only misleading, but also capable of creating misunderstanding and confusion in the State. For the avoidance of doubt, I wish to state categorically that the Delta State Government DID NOT Borrow N40 billion. And the Sheriff Oborevwori administration has not borrowed any dime till now. The records are there for anybody who cares for the truth to verify.
What the Oborevwori administration did was to graciously guarantee a N40b loan facility for ALGON, to enable it offset the unpaid pension liabilities of retired Local Government personnel. Repayable over a five-year period, the loan is to be repaid through direct debits to the Local Government Councils.
For the umpteenth time, let me also state without equivocation that the so-called N465 billion debt amount is actually 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.
Dr. Ifeanyi M. Osuoza,
Honourable Commissioner,
Ministry of Information,
Delta State.
