Governor Ifeanyi Okowa of Delta State
The Delta State House of Assembly has approved Governor Ifeanyi Okowa’s request for N4.5billion performance bond.The bond from Fidelity Bank is for the completion of the Warri-Effurun Water Scheme.The Speaker, Sheriff Oborevwori, read the governor’s letter for the concession at yesterday’s plenary.
According to the letter, the state government had secured the offer and approval of Fidelity Bank for the issuance of the performance guarantee bond with some terms and conditions. He said the benefits of the bond made the state to enter into the agreement, under the new funding plan, particularly in the face of the paucity of funds.
The Majority Leader, Tim Owhefere, explained that the Warri-Effurun water scheme was inherited from the previous governments.
He said the concession would take the risk off the government and make water available in houses in Warri, Effurun and its environs, adding that the project had reached the finishing line.
Delta assembly okays N4.5bn bond for Warri-Effurun water scheme
