Delta State Government Rejects DMO’s Debt Profile, Says No Borrowing Since 2023

The Delta State Government has disowned a report by the Debt Management Office, which ranked the state as having the highest domestic debt, saying the claim is false and misleading.

The state government insisted that it has not borrowed a dime since Governor Sheriff Oborevwori took office on May 29, 2023.

Figures released by DMO indicates that Delta State led the states with highest debt profile as of September 2024 revealing that four states of which Delta was among borrowed an additional N118.3 billion from domestic sources between July and September 2024. 

According to report in an online news portal, the figures means that N42.5 billion was freshly borrowed by the state between July and September.

But reacting to the claim, the State Commissioner for Finance, Chief Fidelis Tilije, at a press conference in Asaba, said contrary to reports by the online news medium, the State Government had not entered into any borrowing relationship with any institution.

According to him, “this state has not entered into any borrowing relationship whatsoever, whether partnership, individual, corporate, bank, local, national or international. We have not borrowed a dime since this administration took effect on the 29th of May, 2023.

“I can state categorically in any forum I found myself, that Delta State remains, in terms of financial terms, the strongest financial state standing in this country.

Advertisement

“I say so with every emphasis because I know the finances of the state, and I say that we are clearly, clearly the strongest financial state in Nigeria.

“I can stand this debate at any point in time, because I know the balances as I speak to you today. I know the efforts that are being made by this administration.

“We stand categorically, heads up, to state that this administration has not borrowed a dime since 29th of May, 2023.

“We have paid so much in terms of construction, we have made sure that all debts are being paid down as seriously as we can.

“We have also improved in terms of contractual relationship with our contractors. Before now, it is difficult for us to give our contractors advanced payments.

“But as I speak, virtually all of the major contracts we have now, we have actually offered between 30% to 40% in terms of advanced payment.

Advertisement

“Indeed, the last discussion I had with the Governor, we are even thinking that for this particular dry season, we are going to be paying up to 70% advance payment.

“Because of the inflationary trends in Nigeria, we don’t want to be caught up in it at all. We do not want to review any contract whatsoever as we move on in this dry season.

“We want to take advantage of the dry season to do as much as we can and in terms of creating value for money for Deltans, the inspections that he has carried out are actually giving out so much to you and I.

“We need to understand his effort in trying to ensure that there are funding for all contracts that we have given and in all relationships that are actually being entered into by this administration.

“I state once again, categorically, as Commissioner for Finance, Delta State, that we have not borrowed any one kobo from any institution whatsoever since 29th of May, 2023.

“I also state categorically, and I am willing to stand anywhere to debate it, that we are the strongest states in terms of finance in this country.”

Advertisement

On his part, the State Commissioner for Works (Rural Roads) and Public Information, Mr Charles Aniagwu described Governor Sheriff Oborevwori as a man of impeccable integrity who has demonstrated a lot of transparency in the running of the affairs of the state.

“We have read out a number of projects that we have embarked upon in the last 19 and half months, and that all those projects are being funded by the funds that are at the disposal of the state, and that at no time in the last 19 and a half months has the state made any move to ask anybody to give us money in form of loan.

“We are only using what is available to us that comes in from our entire state. we have not at any time borrowed a penny, and so we were surprised when we saw a report in one of the online platforms suggesting that we are number one in terms of borrowing.

“We don’t know where that came from because as a state we are on a platform of solid liquidity. We are not only liquid, but we are solidly liquid to be able to deal with the problems that we have and that tells you the management skills of the Oborevwori administration,” he said.