Delta State House of Assembly has approved a short term loan facility of N7.9 billion for Governor Ifeanyi Okowa to finance road construction and well as purchase buses for Delta Line Transport Services.
Governor Okowa in a letter read by the Speaker, Hon. Sheriff Oborienwori said there was an urgent need for the state government to support some of its road contractors in accessing finance to accelerate the execution of critical projects before the rain sets in.
The Speaker stated that the request has become expedient considering the almost N3 billion drop in Federation Account in January.
According to the Speaker, most of the contractors were already on site and have generated payment certificate for works already executed which were yet to be defrayed.
The majority leader, Hon. Tim Owhefere in a separate motion, moved for the House to receive the request for further consideration and approval. The motion was adopted by a voice vote after it was seconded by Emeka Nwaobi and Johnson Erijo.
Credit: The Politico