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
Chief Hails Ogbuku On Enthronement Victory, Performance
Niger Delta
Delta’s Top 2 Governance Ranking, Reflection Of Oborevwori’s Preparedness – Ifeajika
Niger Delta
S’South APC Elects New Zonal Executive Ahead 2027
-
Niger Delta3 days agoWarri Airport Manager Disputes Air Peace Bird Strike Claim
-
News3 days agoNigeria Won’t Surrender Any Territory To Criminals -Tinubu
-
News3 days agoFG Begins Trial Of Over 600 Terrorism Suspects
-
Rivers3 days ago79th IAUE Inaugural Lecture: Prof Anero Advoctes Tuition-Free Education For Children
-
Politics3 days agoParties’ Deregistration: How Justice Lifu Overruled Appeal Court Justices
-
Politics3 days agoADC: Okonkwo Rejects Amaechi As Presidential Running Mate, Withdraws Support
-
Politics3 days ago2027: Tinubu’s Projects Give APC Edge In South East – Yilwatda
-
News3 days agoRivers Judges Commence Annual Vacation, July 20
