The Delta State Government has addressed rumours circulating on online media platforms that claimed Governor Sheriff Oborevwori had secured a N40 billion loan shortly after assuming office.
In a statement released on Tuesday by the State Commissioner for Information, Dr. Ifeanyi Osuoza, the government officially denied reports that it has borrowed any funds since taking office.
Dr. Osuoza clarified that the reports are misleading and have the potential to cause unnecessary confusion among the public.
“For the avoidance of doubt, I wish to state categorically that the Delta State Government DID NOT borrow N40 billion. The Sheriff Oborevwori administration has not borrowed any money to date. The records are available for anyone who wishes to verify the truth,” the statement stressed.
The Commissioner explained that the administration had only facilitated a N40 billion loan for the Association of Local Governments of Nigeria (ALGON) to address outstanding pension liabilities for retired local government employees.
The loan, which is to be repaid over five years through direct debits to the local government councils, was not for the state’s use.
Dr. Osuoza also addressed the debt profile inherited by the Oborevwori administration, which totals approximately N465 billion.
He clarified that this debt was accumulated by previous administrations and is not a result of any borrowing by the current government.
The Commissioner praised Governor Oborevwori for his prudent management of resources and his commitment to adhering to the terms of existing loan agreements.
He added that the governor’s approach to debt servicing enhances the state’s credibility in the global financial community, enabling continued development while ensuring the welfare of Delta State’s citizens.
“The Governor deserves commendation, not condemnation, for being a man of honour and integrity,” Osuoza stated.
