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Activist Slams Governor Okowa Over N150 Billion Loan Request

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A Niger Delta Activist, Comrade (Amb). Derrick Oritsematosan Agberen, has slammed the Delta State Governor, Sen Ifeanyi A. Okowa over the N150 Billion loan request he made yesterday Tuesday, 26th April, 2022.

In a statement made available to media houses, the activist said that it is inconsequential to make such huge amount of loan request, adding that such debt will put the state in penury, just as he said that the level of corruption in the state in particular has impoverished the people.

According to him, Governor Okowa has less than thirteen (13) months in office as Governor.

He said that “going by the reasons Governor Ifeanyi A. Okowa gave for the loan request that the requested credit facility, which has Zenith Bank PLC as the lead arranger, would be principally tailored towards defraying arrears of unpaid certificates earned by contractors for the completion of projects awarded by past and present administrations in the State.”

The activist said that this should not be enough reasons to request such humongous amounts of loans and that the State has a treasury where allocations generated are paid into by the Federal Government and other revenues generated within the state.

Agberen said that Delta State will experience financial crisis sooner or later if we continue having rapid rise in debts rather than making profits from industries; wondering if the state has any vibrant one.

“Governor Ifeanyi A. Okowa of Delta State has spent billions of naira which is supposed to add values/create employment opportunities for her youths in the State, reduce the cost of food items in the market yet the sales price is still on the rise and the importance to creating industries are not visualized.

ALSO READ: Fejiro Oliver Threatens To Drag DTSG To EFCC, Others If DTHA Approves Okowa’s N150Bn Loan Request

Comrade Agberen stated that the Delta State Government under Governor Ifeanyi A. Okowa’s administration has humongous amounts of accumulated loans hanging on the neck of the people of Delta State which tends to put the State in jeopardy and great setbacks even the next administration.

“If you recall In December 2021, the Delta State House of Assembly approved a request by Governor Ifeanyi Okowa for a N20 billion facility from Fidelity Bank Plc to finance the state government’s five per cent equity in the UTM offshore Limited Floating Liquified Natural Gas (FLNG) Project.

“Recently just two(2) months ago, in February 2022, the Delta House of Assembly had approved Governor Ifeanyi Okowa’s request for N12 billion bridging finance facility for the state from the Central Bank of Nigeria (CBN) to cushion the effect of resumption of repayment of the Federal Government’s intervention facilities on the expiration of the forbearance period.

“This shows the high level of corruption in the Delta State Government and the incompetence of the members of the House of Assembly, as they go through motions and keep approving any loan request not considering the outstanding debts of the State Government and the future of the people it governs. Governance in Delta state for over 20 years has invested so much in looting and crippling her resources while the people are wallowing in pains and abject poverty.

“Governance in Delta State is no longer focused on the future of people but it’s politics and this narrative we must change as a people if Delta State must experience good governance,” he added.

He thus called on the lawmakers to turn down the loan request, while calling on Deltans to resist the approval of this request and any other after this.

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