Delta Govt, Group Differ On N20bn Loan For Gas Project

A group, Delta Grassroots Coalition, (DGC), has urged Deltans to reject borrowing by the Governor Ifeanyi Okowa-led administration for the funding of an ‘elephant gas project’.

It said the aim is to divert the freshly approved N20 billion loans by the state’s legislature to acquire three percent equity in UTM Offshore Limited Floating Liquified Natural Gas (FLNG) project and to fund his vice-presidential ambition.

The group in a statement by its national coordinator, Dr Kazie Ochie, alleged that the state government had previously sourced similar amount in 2021 from the same commercial bank to fund its equity stake in the gas project.

But the commissioner for finance, Chief Fidelis Tilije, said the N20 billion facility, a loan for an investment by the  state government in a floating gas company to be situated in Warri, that would provide jobs for citizens and increase the state’s internally-generated revenue.

However, Ochei said UTM Offshore Limited, which was incorporated July 15, 2012 by the Corporate Affairs Commission (CAC), lacks the competence to handle such a highly complex and capital intensive project, stressing that the company’s core job is “providing guards for pipeline security, for products line, crude line and gas”.

RELATED

Gov Zulum Donates N100m To Wounded Soldiers, Families Of Slain Troops

11 minutes ago

LP Mourns Late CJN Uwais, Seeks Implementation Of Report On Electoral Reforms

4 hours ago

Ochei  alleged that Okowa took the loan to enable the company fund his political ambition to become vice president of Nigeria and for the election of PDP governorship candidate, Hon. Sheriff Oborevwori.

Part of the statement reads, “We have been silent over the humongous loans the Government of Delta State, under the leadership of His Excellency, Senator Dr. Ifeanyi Okowa have been taking from various banks in Nigeria, giving the government the benefit of the doubt that the loans were for altruistic purposes.

“But while we have overlooked every other loan, our conscience and curiosities were pricked by the very recent N20 billion loan Governor Okowa asked for and was graciously granted by the Delta State House of Assembly in a record time of Eight Minutes during its sitting on January 27, 2023 without debates or valid questions asked.

“There are no doubts left now, that the loans are being channeled to worthy causes, personal worthy causes: the actualization of the Vice Presidency of Governor Ifeanyi Okowa and the governorship ambition of his stooge, Hon. Sheriff Oborevwori who is the Speaker of the rubber stamp Delta State House of Assembly.’’