Delta Assembly approves government’s request for N40bn loan

The Delta State House of Assembly has granted Governor Sheriff Oborevwori’s request to use an N40 billion credit facility to pay off backlogs in pension arrears.

The approval was given by the House on Tuesday during its first plenary session, according to our correspondent.

On the House floor, Speaker Emomotimi Guwor had read the governor’s letter of request.

The letter states that Oborevwori informed the House that his administration was working with the state association of local governments of Nigeria to clear up the backlog of accrued pensions owed to retired primary schoolteachers and local government employees.

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According to the letter, the loan requested would help state seniors who worked in local government and then retired from it.

The governor continued by saying that Zenith Bank Plc had provided the 25 local government councils with the aforementioned facility in a prorated manner in accordance with each council’s individual debt to pensioners, for which the bank had issued offer letters to the councils.

Emeka Nwaobi, the majority leader of the house and a representative of Aniocha North Constituency, made the motion for approval. Perkins Umukoro, a representative of Sapele Constituency, seconded Emeka Nwaobi’s motion.

Ifeanyi Okowa’s term as governor came to an end three days prior, and the 7th Assembly approved a N71 billion loan for the departing administration.