Delta govt seeks another N600m loan – Commissioner

Delta State Government indebtedness as at date stands at N228.3 billion aside the recent N600 million counterpart fund that was approved by the State Assembly as guarantee loan for Sustainable Development Goals (SDGs) projects, the commissioner for Finance, Olorogun David Edevbie has said.

The commissioner who gave the break down at the ongoing ministerial briefing on Thursday in Asaba, said the debt stock of the state stood at N228,328,360,009,09 as at the end of December, 2017.

According to him, Commercial Bank Loan restructured into FGN Bond stood N68 billion, Salary Bailout CBN N10, 428,704, 931 billion Bailout E.C.A. N8.6 billion, 3rd Delta State Bond N7.7 billion, Contractors Arrears N110, 8 billion, Commercial Bank Loan N3.8 billion and others.

Mr Edevbie further disclosed that the state government has so far received a total of N51, 072, 882, 220 billion in five tranches of the Paris Club refund, adding that N10.7 billion was share to 25 local government area of the state.

"A total sum of N40 billion was credited to the Delta State Joint Local Government Council (LGC) account from the Federal Account during November 2016 to December 2017, and was released to the LGCs with N506 million as bailout funds by state government to pay outstanding staff salaries" he explained.

On Budget Support Facility, Olorogun Dedebie said since the inception of the Budget Support offered states by the federal government, Delta received a total of N16 billion as at December 2017.

On Asaba airport, the finance commissioner said he was not aware that the airport was shut down, saying that he was shocked when he wanted to board aircraft to Asaba, but was told that the airport had shut down.

"Though, I was on vacation, so I am not aware that the airport was shut down until I was told at the airport. Despite the revenue state will lose for the period of five weeks, it is a good move so as to reposition the airport in a standard way to allow bigger aircrafts fly to the state.

He noted that contract of the runway was awarded at the cost of N4 billion to SENTRACO while the total of N2.5 billion was released so far to enable the contractor complete work within the five weeks.

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Delta govt seeks another N600m loan – Commissioner

Delta State Government indebtedness as at date stands at N228.3 billion aside the recent N600 million counterpart fund that was approved by the State Assembly as guarantee loan for Sustainable Development Goals (SDGs) projects, the commissioner for Finance, Olorogun David Edevbie has said.

The commissioner who gave the break down at the ongoing ministerial briefing on Thursday in Asaba, said the debt stock of the state stood at N228,328,360,009,09 as at the end of December, 2017.

According to him, Commercial Bank Loan restructured into FGN Bond stood N68 billion, Salary Bailout CBN N10, 428,704, 931 billion Bailout E.C.A. N8.6 billion, 3rd Delta State Bond N7.7 billion, Contractors Arrears N110, 8 billion, Commercial Bank Loan N3.8 billion and others.

Mr Edevbie further disclosed that the state government has so far received a total of N51, 072, 882, 220 billion in five tranches of the Paris Club refund, adding that N10.7 billion was share to 25 local government area of the state.

"A total sum of N40 billion was credited to the Delta State Joint Local Government Council (LGC) account from the Federal Account during November 2016 to December 2017, and was released to the LGCs with N506 million as bailout funds by state government to pay outstanding staff salaries" he explained.

On Budget Support Facility, Olorogun Dedebie said since the inception of the Budget Support offered states by the federal government, Delta received a total of N16 billion as at December 2017.

On Asaba airport, the finance commissioner said he was not aware that the airport was shut down, saying that he was shocked when he wanted to board aircraft to Asaba, but was told that the airport had shut down.

"Though, I was on vacation, so I am not aware that the airport was shut down until I was told at the airport. Despite the revenue state will lose for the period of five weeks, it is a good move so as to reposition the airport in a standard way to allow bigger aircrafts fly to the state.

He noted that contract of the runway was awarded at the cost of N4 billion to SENTRACO while the total of N2.5 billion was released so far to enable the contractor complete work within the five weeks.

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