Press statement: Governor Sheriff Oborevwori has not borrowed a dime

Dr. Ifeanyi M. Osuoza,
Honourable Commissioner,
Ministry of Information Delta State notes with seriousness about some reports in some online media platforms alleging that Governor Sheriff Oborevwori borrowed the sum of N40billion soon after assuming office.

He stated that the reports are not only misleading, but also capable of creating misunderstanding and confusion in the State. He also state categorically that the Delta State Government did not Borrow N40 billion and the Sheriff Oborevwori administration has not borrowed any dime till now with a valid proof of the  records for anybody who cares  to verify the truth. 
He further states that the Oborevwori administration only graciously guarantee a N40b loan facility for ALGON, to enable it offset the unpaid pension liabilities of retired Local Government personnel which is repayable in five-year period, the loan will be repaid through direct debits to the Local Government Councils. 

He also state without equivocation that the so-called N465 billion debt amount is actually the existing debt profile accumulated by previous administrations in the State, he hailed Governor Oborevwori as a prudent manager of resources, and has done the right thing by keeping to the terms of repayment as specified in the loan agreements noting that Governor deserves commendation, not condemnation, for being a man of honour and integrity.

He noted that the Debt servicing/repayment is to improve the credibility of any administration in the global financial community as a serious minded and progressive administration, which will enjoy the respect and support of financial institutions, and that It is only a well run economy that can embark on debt servicing and still maintain its developmental vision and focus on the welfare and well being of its citizens, as the Oborevwori administration has continued to do.

Meanwhile, he appeal to the media, as strategic partners of development, to always cross check their facts, as the ethics of the profession demands, before rushing to publish and wish to reiterate that Governor Oborevwori maintains an open door policy, and is committed to transparency and accountability in the administration of the State.