Delta takes N10bn CBN loan to boost agricultural productivity

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The Delta State government has approved the borrowing of a N10 billion credit facility with a single digit interest rate from the Central Bank of Nigeria (CBN) to boost agricultural productivity in the state. The state also apprpved a new measure of boosting its revenue base by introducing property tax regime in urban areas of the state. He gave statistics of the Internally Generated Revenue (IGR) profile of the state as follows, N7.8 billion generated in January, N5.3 billion in February, N6.04 billion in March, N3.9 billion in April, N3.5 billion in May and N4 billion in June, 2020. Commissioner for Information, Mr. Charles Aniagwu, said it was part of the decisions reached at the 7th Virtual Excutive Council meeting in Asaba yesterday.

The commissioner said the repayment of the apex bank’s loan would be shouldered by the state government and two private sector investors, maintaining that the state needed 2,507 hectares of land to go into large scale cassava production. He said 1,007 hectares of land had been acquired to establish the farms around Oghara and Abraka in Ethiope West and Ethiope East council areas of the state respectively. He said the state was collaborating with the federal government to execute water projects in the three senatorial districts under the P-WASH programme where it would provide the sum of N295 million as counterpart fund.

He further disclosed that a number of road projects, including Okwatata Street in Uvwie and its adjoining streets, Aliohen Road, Ute- Okpu in Ika North East Local Government and remedial works on Udu Bridge in Udu Local Government Area of the state, were equally approved to deepen the ‘Stronger Delta’ mantra of the state.

He said: “Exco approved the appointment of Obi Solomon Ezechiyelugo, as the traditional ruler of Ashama community in Aniocha South Local Government Area of the state while it equally ractified the position of Odiologbo of Oyede to Ovie of Oyede in Isoko North Local Government Area.” He said Governor Ifeanyi Okowa directed his commissioners to embark on inspection of all ongoing projects in their various ministries to ensure they were executed according to specification.

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