Delta State House of Assembly has approved a loan request of N40 billion for Governor Sheriff Oborevwori to defray accumulated arrears of pensions owed to retired primary school teachers and local government employees in the state.
The approval is one of the first legislative actions of the first session of the 8th Assembly presided over by the Speaker, Dennis Emomotimi Guwor.
Oborevwori, in a letter to the House, sought the lawmakers’ nod to obtain the facility from Zenith Bank PLC at the instance of the 25 local government councils of the state.
In the letter, Oborevwori explained that the credit facility was aimed at assisting the 25 councils in defraying a substantial part of Accrued Rights of Local Government Pensioners.
According to him, the lawmakers’ approval was part of the conditions relevant to accessing the facility.
Oborevwori informed the House that a meeting was held with local government council chairmen and other stakeholders where it was unanimously resolved that a credit facility be sourced from a commercial bank to pay the council retirees.
The governor said Zenith Bank PLC has availed the 25 local government councils of the said facility in a prorated manner, in tune with their respective indebtedness to pensioners for which offer letters have been served to all the chairmen by the bank.
He reaffirmed the commitment of his administration to collaborating with the State Chapter of the Association of Local Government of Nigeria (ALGON) to reduce the backlog of accumulated pensions owed to retirees and enhance the welfare of the people.
Moving a motion for the approval to be granted, House Majority Leader, Emeka Nwaobi, further explained the importance of the facility and lauded the governor for partnering with ALGON to bring succour to the senior citizens.
Nwaobi’s motion was seconded by the Chief Whip, Perkins Umukoro, before the House unanimously gave a nod to the request.
In his remarks thereafter, the Speaker, Mr Guwor commended the lawmakers for their support for early attention to the request, just as he assured of a robust synergy between the legislature and the executive for greater socio-economic development in Delta State.
