Delta lawmakers approve N1 billion loan request
Govt restates commitment to scholarship scheme
The Delta State House of Assembly at the weekend approved the state government’s request for a N1 billion loan to enable it access the Universal Basic Education Fund.
The loan would be used for the 50 per cent counterpart contribution of the state government required to access the N2 billion provided by the Federal Government for the development of Basic Education in the country.
The loan request was presented in a letter from Governor Ifeanyi Okowa, which was read by Speaker of the House, Sheriff Oborevwori on the floor of the House.
“Constrained by our current state of our finances, I granted approval for N1 billion loan facility from Fidelity Bank plc. The loan is planned to be exclusively applied to the payment of the 50 per cent counterpart funding by the State Universal Basic Education Board (SUBEB) to enable us access the Federal Government funds for the execution of projects in the education sector in the state,” the letter read in part.
Majority Leader of the House, Tim Owhofere supported the request noting that the counterpart funding was in pursuance of the development of the Basic Education in the state.
Meanwhile, the Delta State Government has reiterated its commitment towards providing good welfare package for promising students across the state and in the Diaspora through the State Scholarship and Bursary Board.
The Executive Secretary, Delta State Scholarship and Bursary Board, Elijah Ologe who disclosed this in Asaba while receiving members of the Nigeria Association of Women Journalists (NAWOJ), Delta State Council said 156 families and 285 applicants have so far benefited from the scholarship for children of deceased civil servants.
He said that the Board would not condone favouritism in the scholarship scheme, stressing that it was purely based on merit even as he disclosed that the state government, in spite of the economic hardship had disbursed the 2015/2016 bursary to students of the state origin.