Chief Afam Obiago,Economic Adviser to Gov. Emmanuel Uduaghan of Delta State says the state government opted for a N50-billion bond as part of measures to improve the state’s economic potential.

Obiago who spoke in an interview in Asaba said the bonds market offered the cheapest source of funds and a rescue package for governments to execute projects.“First of all, the bonds market gives you the cheapest kind of funds in terms of interest rate. Secondly, the bond market gives you a long moratorium; that is the repayment period.

And then what that immediately means is that it frees you from the stranglehold of what otherwise commercial loans from the bank will put you through.” The adviser stressed that the best option for governments to source funds and execute projects with ease was through such bonds. “Every government must look for funds to be able to create value and in the process of looking for funds, you must look for the cheapest possible funds. And you cannot rely only on the funds that come to you either by revenue allocation from the Federal Government or internally-generated revenue. Those funds are actually supposed to be your collateral for more funds.