The government of Delta State has announced that the state’s entire debt profile is N272 billion.
It was announced Monday in Asaba by the state’s Commissioner for Finance, Fidelis Tilije.
He stated, “The total debt size of the state is N272 billion, and the state is not the second most indebted in the country as reported.
“N84 billion of the debt is for contractors, and N27 billion is for pension arrears, and the administration of Governor Ifeanyi Okowa inherited a larger part of the debt.”
The state is owed N240 billion from the federal government for unpaid 13 per cent oil derivation, as indicated by the finance commissioner.
He said that the state government was writing off a part of the FAAC funds and would hand the rest over to the next administration.
Also, Delta State did not receive N50 billion from the Federal Government to rehabilitate some federal highways in the state, as previously reported by Olisa Ifeajika, Chief Press Secretary to Governor Ifeanyi Okowa.