Governor Oborevwori Has Not Borrowed A Dime Since Inception Of His Administration — Osuoza
The Delta State Government observed with serious concern reports in some online media platforms alleging that Governor Sheriff Oborevwori borrowed the sum of N40billion soon after assuming office.
According to a press statement signed by the Commissioner for Information, Dr. Ifeanyi Osuoza, said reports which claimed that the governor has borrowed N40 billion since he assumed office 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 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.”
According to the Commissioner, the debt servicing and 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.
He noted that 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, Osuoza appealed to the media, as strategic partners of development, to always cross check their facts, as the ethics of the profession demands, before rushing to publication, eiterating that Governor Oborevwori maintains an open door policy, and is committed to transparency and accountability in the administration of the State.