Delta Gov’t Denies Oborevwori’s N40bn Loan.

The Delta State Government has strongly denied claims that Governor Sheriff Oborevwori borrowed N40 billion shortly after taking office, calling the reports misleading. According to the State Commissioner for Information, Dr. Ifeanyi Osuoza, the Oborevwori administration has not taken any loans. Instead, the government only guaranteed a N40 billion loan facility for ALGON to settle pension liabilities for retired local government staff, with repayment over five years through deductions from local government councils.

Dr. Osuoza clarified that the N465 billion debt mentioned in reports is the accumulated debt from previous administrations. He praised Governor Oborevwori as a prudent manager of resources, committed to debt servicing, transparency, and accountability. The statement urged the media to verify facts before publishing to avoid misinformation.