By Austin Ogwuda
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THE Chief Executive Officer of Delta State Orientation and Communications Bureau, Dr. Fred Latimore Oghenesivbe has given reason why Governor Sheriff Oborevwori-led administration is not borrowing money to fund mega infrastructure projects, but he is rather fast reducing the humongous debt burden he inherited.
According to him, the magic wand adopted is paying off and has “efficiently blocked financial leakages and saved Billions of Naira within one year and two months in office”.
Dr. Oghenesivbe who stated this in Lagos today (Tuesday) during a Public Affairs Radio Programme said that so far Governor Oborevwori has reduced the State debt profile with more than N180 billion, and also saved over N205 billion through prudent management of operating cost.
Oghenesivbe stated that several billions of Naira saved by the governor within the said period and consistently, shall be spent on new mega infrastructure projects under the MORE Agenda of this administration, complete inherited and ongoing projects, increase financial grants to Artisans, Small and Medium scale businesses that would fast-track socioeconomic development in the state.
Armed with latest facts and figures from the Federal Debt Management Office (DMO), the Delta State Bureau Chief said Delta’s domestic debt decreased from N421.78 billion in Q1 2023 to N334.90 billion in Q1 2024, a 20.62% decrease, noting that from Q4 2023 to Q1 2024, the State debt also decreased from N373.41 billion by 10.31% as a result of the good governance ingenuity and prudent management of the state resources by governor Sheriff Oborevwori.
Oghenesivbe who doubles as the Executive Assistant on Communications to Governor Oborevwori, assured that the declining debt profile of the state, coupled with the billions of Naira saved as surplus from operating cost, that the State is more than ever determined to exit the list of national debtors, progressively enhance rapid economic growth that would create more wealth and jobs for citizens and further advance Delta in all sectors beyond 2027.
His words, “Delta State, as we speak, is making substantial progress in debt payment and servicing through prudent management of state resources by this administration.
“Our amiable governor, Rt Hon Sheriff Oborevwori has drastically reduced the state debt profile with over N180billion within one year and two months in office, and counting.
“Within the same period, a whopping sum of over N205 billion was saved as surplus from operating cost. It has never happened since the creation of Delta State. These resources are now being used to fund new mega construction projects, completion of inherited and ongoing projects across the three senatorial districts; Delta Central, North and South, respectively.
“Since May 29, 2023 till date, governor Oborevwori had governed the state efficiently with available financial resources without approaching any bank or financial institution for loan or credit facility.
“In my view, our governor deserved commendation from all well meaning Deltans, including his detractors and political rivals in the opposition political parties.
“Politics is not about criticisms alone, but also about commending an elected representatives whenever he or she does the right thing or accomplishing uncommon socioeconomic results. Governor Oborevwori is a genius in the area of prudent management of resources.
“He has ensured that Delta is running smoothly without increasing the state debt burden, rather he’s reducing it rapidly. We can’t thank God enough for giving us a governor that is allergic to debts and frivolous spending”, he added.