New Telegraph

N150bn Loan: N30bn to offset pension arrears, others

Delta State government has said it was seeking N150 billion bridging credit facility to pay for the completion of some ongoing legacy projects awarded by past and present administrations and offset outstanding pension commitments of local government pensioners.

The Commissioner for Finance, Chief Fidelis Tilije, supported by his Information counterpart, Mr. Charles Aniagwu, in Asaba yesterday said the request was not particularly a loan but a discounting receivables from the Federal gov- ernment for crude oil payments made without recourse to the 13% derivation to oil producing states from 2010 to date.

But the All Progressives Congress (APC) in the state cried foul and described the loan as ‘irregular and insane.’ The Publicity Secretary of the party in the state, E. V. Onojeghuo, in Asaba yesterday said “Okowa has engaged the state in a twisted logic and the madness must be resisted.” He said: “The Governor gave what is most unlawful excuse for obtaining this insane amount and presented it to his rubber stamp legislators, and claimed that the state’s ability to deliver the phantom legacy projects of his shameful administration.”

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