Governor Sheriff Oborevwori
By Victory Oghene
The Delta State Commissioner of Information, Dr. Ifeanyi M. Osuoza, has refuted reports that Governor Sheriff Oborevwori borrowed the sum of N40billion soon after assuming office. He said the state under the watch of Governor Oborevwori has not borrowed a dime.
According to a statement signed by Osuoza, “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 categoricall y that the Delta State Governmen t 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 N40billion 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 umpteen 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” Osuoza sounded with a note of finality.
