Niger Delta
‘Why Delta Opted For N50bn Bond’
Chief Afam Obiago, Economic Adviser to Governor Emmanuel Uduaghan of Delta says the state government opted for a N50-billion bond as part of measures to improve on the state’s economic potential.
Obiago who spoke in an interview with newsmen in Asaba said the bonds market offered the cheapest source of funds and a rescue package for governments to execute projects.
“First of all the bonds market gives you the cheapest kind of funds in terms of interest rate. Secondly the bond market gives you a long moratorium; that is the repayment period.
And then what that immediately means is that it frees you from the stranglehold of what otherwise commercial loans from the bank will put you through.’’
The adviser stressed that the best option for governments to source funds and execute projects with ease was through such bonds.
“Every government must look for funds to be able to create value and in the process of looking for funds you must look for the cheapest possible funds.
“And you cannot rely only on the funds that come to you either by revenue allocation from the federal government or internally-generated revenue. Those funds are actually supposed to be your collateral for more funds.”
“Delta state particularly has a lot of projects that could create value to governance and to its citizens. Therefore the bonds market gives us a leverage to be able to implement our programmes.
Obiago listed some of the programmes to be executed as the airport project, the Koko Free Trade Zone, the rehabilitation of schools and the upgrading and standardisation of other infrastructure.
Niger Delta
Ibom Air Reiterates Commitment To Healthcare Delivery
Niger Delta
Group Dismisses Call For NDDC MD’s Sack … Passes Confidence Vote.
Niger Delta
Obaseki Approves N70,000 Minimum Wage For Workers
-
News2 days ago
Drama As Senators Jostle For Seats In Newly Renovated Chamber
-
Niger Delta2 days ago
Diri swears in 14 Commissioners, Revenue Chairman
-
Nation2 days ago
VCDF in Partnership with LDSVA Sensitise Women on Gender Equality, Financial Literacy & Entrepreneurship
-
Niger Delta2 days ago
Obaseki Approves N70,000 Minimum Wage For Workers
-
Niger Delta2 days ago
Ministry Of Health Decorates Odu As End Malaria Champion In Rivers
-
Niger Delta2 days ago
Group Dismisses Call For NDDC MD’s Sack … Passes Confidence Vote.
-
Business2 days ago
Fuel Scarcity: IPMAN threatens shutdown over bridging claims
-
Niger Delta2 days ago
Court Exonerates Ekpeye Monarch, 42 Others From Murder Of Ahoada DPO