Delta Assembly To Review IPP Project, Approve N.5b loan for the state

The Delta State House of Assembly, has set up a five-man adhoc committee to review the Delta State Independent Power Plant (IPP) project in Oghara on Wednasday in Asaba.

Following a motion of matters of urgent public importance raise by the member respresenting Ukwuani Constituency,Hon. Alphonsus Ojo and seconded by Hon. Peter Uviejitobor representing Udu Constituency, on the imperative to review the IPP project in Oghara owing to the reduction in the finances of the state occasioned by the dwindling price of crude oil.
 The Speaker of the house, Rt. Hon Monday Igbuya, in quick response to the motion constituted a committee to be headed by the Majority Leader, Hon. Tim Owhefere as chairman Hon. Emeka Nwaobi(Aniocha North) member;others include Hon. Anthony Elekekwuri (Ika North East), Hon. Efe Ofobroku (Uvwie) and Hon. Eric Oharisi (Ughelli North 11) while Barr. Otto Aghoghovbia and Barr. Augustine Uwasike are to serve as secretaries to the committee.

Also the letter from the Governor of the state Dr. Ifeanyi Okowa soliciting the approval N500, 000,000.00 term loan facility from Fidelity Bank Plc being a counterpart funding for the state to access  the World Bank (NEWMAP project) ecological fund was read in the floor of the  house

The letter reads, “It is with pleasure that I inform the Honourable House that the World Bank has expressed its willingness to grant the state access to the World Bank NEWMAP Project – Ministry of Environment Ecological Fund for the execution of Special Climate Change and various ecology projects.
“Consequently, the Delta State Government intends to obtain a N500, 000,000.00 term loan facility from Fidelity Bank Plc to meet her counterpart contribution required to access the fund.
“By the letter attached as Annexure 1, Fidelity Bank Plc indicated its readiness to offer to the state, the loan facility. Access to the loan is, however, based on the pricing and terms/conditions. One of such conditions is the resolution of the State House of Assembly granting approval for the loan”.

The house after a debate gave approval for the request of the governor to enable the   government state according to the  Majority Leader, Hon. Tim Owhefere to key into the World Bank Ecological funds, following the impact of environmental degradation in most parts of the state.