Delta Approves N25bn Loan for Okowa

Nigeria’s Delta State Parliament has approved Governor Ifeanyi Okowa’s request for a 25 Billion Naira loan to develop oil palm production.

The Governor’s request is contained in a letter read at a plenary session by the Speaker, Chief Sherriff Oborevwori.

Okowa said the credit facility being provided by First City Monument Bank, designed to take advantage of Central Bank’s oil palm development initiative, and will be used for the development of 17,345.5 hectares of palm plantation.

Motion for the approval of the request was moved by the Majority Leader of the House, Chief Ferguson Onwo, and seconded by the Minority Leader of the Assembly, Mr Innocent Anidi.

 

(Report by Mercy Obojeghren; Edited by Samuel Odebowale)