Pensions: Delta assembly approves Oborevwori’s N40bn loan request  

The Delta State House of Assembly has approved a request for a credit facility of N40 billion to assist the 25 local government councils in settling their accumulated pensions owed to retired primary school teachers and local government employees in the state.

The approval came after Governor Sheriff Oborevwori sent a letter to the House, which was read during the plenary by the Speaker, Rt Hon Emomotimi Guwor.

Governor Oborevwori stated that the credit facility aims to alleviate the challenges faced by senior citizens of the state who served and retired at the local government level.

The governor recalled a meeting held in his office with local government council Chairmen and other stakeholders, where it was unanimously agreed that the facility should be sourced from a commercial bank to pay the council retirees.

According to the governor, Zenith Bank Plc has provided the councils with the aforementioned facility in a prorated manner, corresponding to their respective indebtedness to pensioners. Offer letters have been served to all the chairmen by the bank.

The Majority Leader of the House, Emeka Nwaobi, highlighted the necessity of the credit facility. He expressed that the payment of backlogs owed to local government pensioners would bring relief to many households in the state, especially considering the current high cost of living due to the recent removal of fuel subsidy, which has had negative economic effects on Nigerians.

Nwaobi commended the Oborevwori-led administration for collaborating with the Association of Local Government of Nigeria (ALGON) to address these issues and improve the situation for good.