Delta Approves N600m Loan to construct 10,000 Housing Units

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Delta Approves N600m Loan to construct 10,000 Housing Units

June 21, 2018, 10:45 pm News Seen: 96
Delta Approves N600m Loan to construct 10,000 Housing Units
The Delta House of Assembly on Tuesday approved the request by the executive to obtain a revolving N600 million loan from United Bank of Africa for a 10,000 housing unit project.

The approval of the request followed a motion moved by the Majority Leader, Mr. Tim Owhefere, at plenary in Asaba which was seconded by Daniel Mayuku PDP-Warri South-West

Leading the debate, Owhefere noted that the housing units, when completed, would help to tackle the housing challenges faced by civil servants in the state.
He said that other people in the state would also benefit from the scheme and commended the state government for the initiative. The motion was unanimously adopted when the Speaker, Sheriff Oborevwori, put it to a voice vote

Gov. Ifeanyi Okowa had earlier forwarded the request to the assembly to enable government to facilitate the takeoff of the housing units in Illah, Oshimili North Local Government Area of the state. Okowa said that his administration was determined to ensure lasting solution to the alarming housing deficiency especially among civil servants in Delta, the state capital.

The governor noted that despite the approval by the State Executive Council, the assembly needed to give its own approval via a resolution.

He said that the state government had entered into partnership with Greenfield Assets Limited and its partner Lafarge Holcim Africa Plc, for the construction of the 10,000 housing units.

Okowa said that the state had already signed a Memorandum of Understanding MOU with the developers in February 2016, adding that the state had also met some of its obligations.

According to him, Greenfield Assets Limited had requested government to provide an N600 million revolving bank guarantee to mitigate the gap in the takeoff of the project.

Credit: Independent
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About the Author: Samuel Chinwendu
Samuel Chinwendu
Samuel Chinwendu