Niger Delta
Delta Assembly Approves N11bn For Payment Of Road Contractors
The Delta State House of Assembly has approved N11billion for Governor Ifeanyi Okowa to enable the state government defray outstanding debts owed to major road contractors in the state using certificate discount facilities.
The request, which was contained in a letter from the governor, was read by the Speaker, Mr Sheriff Oborevwori.
The governor, in the letter, stressed the urgent need to start defraying the state government’s commitment to contractors which represents a large portion of the state’s overall debt.
Okowa, in the letter, said the move became expedient because in addition to the set debt thresholds in the state Fiscal Sustainability Plan, the World Bank recently approved grants linked to certain performance indicators.
He said one of such performance indicators was a reduction of such debts by replacing them with more transparent formal debts such as commercial bank loans that have clear repayment terms.
According to Okowa, the move would substantially improve contractors’ confidence in the state government and overall projects execution.
Opening debate on the request, the Majority Leader, Mr Tim Owhefere said that the essence of the request, was apparently to enable the state ensure completion of major projects such as roads.
Niger Delta
Bayelsa Reassures AFENET, Others On Stronger Synergy
Niger Delta
NDDC Foreign Scholarship: 5,986 Scale CBT … As 2,492 Reach Final Interview Stage
Niger Delta
Advocates Tasks N’Delta Govs On Rights-Based Disability Laws Enactment
-
News12 hours agoGroup Hails Tinubu, Chinda Emergence
-
Comment4 hours agoRivers @59: Progress Through Tough Times
-
News4 hours agoFubara Promises To Deliver State Secretariat Early 2027
-
News4 hours agoFubara Assures Completion Of Ongoing Projects In Rivers …As Airport Road Bypass Hits 65% Completion
-
News4 hours agoCourt Clears Jonathan To Contest 2027 Presidential Election
-
News4 hours agoINEC Appeals Judgement Voiding 2027 Election Timelines
-
News3 hours agoIGP pledges police protection for major projects
-
Business2 hours agoUNIPORT, UNIBEN Clinch NCDMB’S Engineering Olympiad Regional Victories
