Delta Clears N130bn From N465bn Debt Legacy

Delta Clears N130bn From N465bn Debt Legacy

The Delta State Government has announced that it has repaid over N130 billion of the N465 billion debt inherited from previous administrations. This update was provided by Mr. Felix Ofu, the Executive Assistant (New Media) to Governor Sheriff Oborevwori, during a press briefing in Asaba on Tuesday…….. CONTINUE READING

Ofu stated, “This administration inherited a debt of N465 billion, and as of March 2024, the Oborevwori-led government has successfully paid over N130 billion to alleviate the state’s debt burden.”

He emphasized that the administration understands the long-term implications of accumulating debt, noting, “The debt not only affects the present but will impact future generations.”

Ofu also highlighted the administration’s fiscal responsibility, mentioning that under Governor Oborevwori’s leadership, over N205 billion in surplus has been saved through effective management—an unprecedented achievement since Delta State’s establishment.

Further, he clarified that the current administration has not taken on any new loans since Oborevwori assumed office on May 29, 2023. “It is perplexing when people question the use of the substantial funds coming into the state,” Ofu remarked.

In addition to debt reduction, the government has invested in numerous state projects. Mr. Nobert Chiazor, Executive Assistant (Media) to the governor, praised the N78 billion contract with Julius Berger, calling it a historic development for Delta State. Chiazor emphasized that the ongoing projects, particularly in the Warri area, reflect Oborevwori’s commitment to transparency and effective governance.

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