DELTA ASSEMBLY APPROVES N1.250b LOAN FOR AGRICULTURAL CREDIT SCHEME - No.1 local news reporters | delta state daily news - Edo state news

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Wednesday, August 8, 2018

DELTA ASSEMBLY APPROVES N1.250b LOAN FOR AGRICULTURAL CREDIT SCHEME



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DELTA ASSEMBLY APPROVES N1.250b LOAN FOR AGRICULTURAL CREDIT SCHEME

delta state house of assembly , delta state house of assembly meeting
The Delta House of Assembly presided over by the Speaker, Rt Hon Sheriff Oborevwori JP,MNIM, on Tuesday approved the sum of One billion two hundred and fifty million Naira credit facility from Zenith Bank Plc as requested by Gov Okowa to enable the state government access the Central Bank of Nigeria Commercial Agriculture Credit Scheme, CACS.

The approval of the loan during Tuesday plenary in Asaba, was sequel to a letter sent to the House by Governor Ifeanyi Okowa, seeking the approval of the house.

The Speaker read Okowa’s letter and the request was unanimously approved when he later put it to a voice vote.
The governor said in the letter that the CBN, in its bid to fast-track the diversification of the economic base of the nation and facilitate economic growth introduced CACS.

Majority Leader, Hon Tim Owhefere, Samuel Mariere and Emeka Elekeokwuri commended the state government’s initiative, noting that the scheme which was designed to assist the state attain food sufficiency as loans will be available to farmers.

"This loan will go a long way to help farmers to enlarge the scale of their production to meet the large scale demand for agricultural products. We all know that the average interest rate currently in the country is from 25% - 30% but this loan to farmers is to be issued at a rate of 9% which will encourage and improve agricultural productivity."

In a similar development, the House also approved the loan request of One Billion, Two hundred and fifty million Naira from Sterling Bank PLc for the State Government to enable it access the Universal Basic Education Fund.

The One Billion, Two hundred and fifty million Naira is the 50% counterpart contribution fund of Delta State Government required to access the federal government education fund for the development of Basic Education in the country.

The governor’s request was approved after the Speaker read the letter from the governor and put it to a voice vote.
Earlier, the Majority Leader, Hon Tim Owhefere moved a motion for the House to receive the governor’s letter for further consideration, seconded by Hon Shola Daibo.

While supporting the bill, Owhefere and the Deputy Majority Leader, Hon Oboroh Preyor said the loan will enable government meet up to its educational policies in the state universal basic education SUBEB.
delta state house of assembly meeting


Also at plenary, the House received two reports, which included the reports of the Joint Committee on Information and Rules, Business, Legal and Judicial Matters on a bill for a law to make public information and records more freely available, provide for public access to public information and records, protect public records and information to an extent consistent to public interest and the protection of personal privacy, protection of public serving officers from adverse consequences of disclosing certain kinds of official information without authorization and establish procedures for the achievement of those purposes and for related matters therewith was presented to the House by the Chairman, House committee on Information, Hon Tim Owhefere.


The other one was the report by the Committee on Health on a bill for a law to Regulate the registration, establishment, operation, conduct, supervision and inspection of Private Health Care Centres in Delta State and for other matters incidental thereto was presented to the House by the Chairman of the House Committee on Health Hon Aphonsus Ojo.

But the House slated the 4th and 5th of September, 2018 for the committee of the whole to deliberate on the two reports.
The Speaker, joined by the Chairman, House committee on Sports, Hon Emeka Nwaobi representing Aniocha North state constituency thanked the members for participating fully in the just concluded African Senior Athletes championship, tagged Asaba 2018, hosted in Asaba by the governor.

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