Delta to invest N20b in gas projects, denies applying for fresh loan

Delta State government, yesterday, declared its intention to invest N20 billion in gas projects to create employment and drive Internally Generated Revenue for the state

Speaking at a press conference in Asaba, yesterday, the Commissioner for Finance, Mr. Fidelis Tilije, also denied that government applied for fresh loan of N120 billion.

Tilije said there was misconception about the loan, explaining that they are only changing the lead bank to enable government prosecute projects before the expiration of the present administration.

The commissioner, who was flanked by his counterpart in the Ministry of Information, Mr. Charles Aniagwu and the Chief Press Secretary to the Governor, Mr Oliseh Ifeajika, explained that the reluctance of the previous lead bank to prosecute the N100 billion loan made the government to contract other bank.

He added that the state House of Assembly approval was one of the processes required for the change of the lead bank.

Tilijie observed that the additional N20 billion is the only new loan, which is intended for a gas floating project to be sited in Warri.

Commissioner of Information, Charles Aniagwu, accused the All Progressives Congress (APC) of fueling misconception to score cheap political points in the upcoming elections.