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ROADS: Delta Assembly approves discount on FG promissory note of N34.4bn for Okowa

By Festus Ahon

ASABA—Delta State House of Assembly has approved the request of the state governor, Senator Ifeanyi Okowa for discount of the Federal Government Promissory Note of N34,430,396,876 only- issued by the Debt Management Office, DMO, to settle debts for works executed on federal roads in the state by the Central Bank of Nigeria, CBN, at a discount rate of nine percent per annum.

The House also approved an upward review of the contract for the construction of the new central secretariat complex project by N2.2 billion.

The request of the governor was contained in two different letters to the House which were read by the Speaker, Chief Sheriff Oborevwori at Tuesday’s plenary.

Okowa in the letter for the discount of the Federal Government promissory note, said the state executive council at its meeting which held on May 21, 2019 approved the discount of the promissory note of N34,430,396,876 only by the CBN at a discount rate of nine percent per annum.

He said the state executive council also approved the payment of consultancy fee of N1,128,807,251.28 to the Nigeria Governor’s Forum Consultant, GSCL Consulting.

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The governor said the purpose of the letter was to seek a resolution of the House in support of the discount and payment of consultancy fee.

The Deputy Speaker, Ochor Ochor moved separate motions for the House to receive and approve the request which was seconded by Oboro Preyor and Tim Owhefere.

On the letter for the upward review of the contract sum for the new secretariat project, Okowa in the letter, said the state executive council had approved an upward review of the contract for the construction of the new central secretariat complex undertaken by North China Construction Nigeria Limited by N2.2 billion.

He said due to the urgency in bringing all Ministries, Departments and Agencies under one roof to reduce the cost of governance, it became necessary to complete the project in record time by ensuring adequate funding bearing in mind its importance as one of the flagship projects of the current administration.

 

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