On Tuesday, August 27, the Delta State Government set the record straight regarding recent reports claiming that Governor Sheriff Oborevwori borrowed N40 billion shortly after taking office.
The government said these reports were misleading and could cause unnecessary confusion. Dr. Ifeanyi Osuoza, the State Commissioner for Information, clarified that the state did not borrow N40 billion and emphasized that “the Sheriff Oborevwori administration has not borrowed any dime till now.”
Dr. Osuoza explained that the Governor’s administration only guaranteed a N40 billion loan for ALGON, which will be used to settle unpaid pensions for retired Local Government workers. This loan, which will be paid back over five years through direct deductions from Local Government Councils, was not borrowed by the state itself.
He further noted that the alleged N465 billion debt is actually the total amount of debt accumulated by previous administrations. Governor Oborevwori, known for his careful management of resources, is doing a commendable job by sticking to the repayment terms of the loan agreements.
Osuoza added that effective debt management boosts the state’s reputation with global financial institutions, which is vital for ongoing development and support. He urged the media to fact-check their information before publishing, emphasizing the importance of accurate reporting.
Finally, he reiterated that Governor Oborevwori is committed to openness and honesty in managing the state.
