Delta State Government has sought for N100 billion bond from the Nigeria Stock Exchange (NSE) to enable it accelerate Infrastructural development in the State.
The State Governor, Dr. Emmanuel Uduaghan who announced this when the Chief Executive Officer of the Exchange, Mr Oscar Onyema paid him a courtesy visit in Asaba said the bond was in two tranches and the transaction on the first N50 billion tranche was already on.
He commended the Nigeria Stock Exchange (NSE) for its support so far in fast-tracking the transaction and promised to use the bond to actualize the infrastructural dream of the State Government.
Governor Uduaghan explained that the State Government decided to seek for bond from the Nigeria Stock Exchange (NSE) because of its low interest rate saying “we decided to seek for bond since to get such loan from the bank attracts higher interest rate”.
Explaining further, he said the strategic plan of the State was to ensure there was economic benefit in all developmental projects embarked upon by the Government.
The Governor said that businessmen in the State would be encouraged by the state Government to patronize the Nigeria Stock Exchange (NSE) when sourcing for funds to invest in the State because the business community would find it difficult to borrow from the banks at high interest rate.
“We are encouraging businessmen investing in the State to patronize you (NSE) don’t look at the State as a rich one, make your interest rate to be very low so that we can patronize you the more.”
In a brief address, the Chief Executive Officer of the Nigeria Stock Exchange, Mr. Oscar Onyema stated that the Exchange was ready to give the necessary support to Delta State Government to enable it get the N100 billion bond.
Explaining that it would be issued in two tranches, the first tranche would be N50 billion while the second phase of N50 billion would come up later.
“The Nigeria Stock Exchange is ready to facilitate the transaction to ensure that Delta State Government gets this bond soonest in order to enable the government fast-track development in the State.”
Meanwhile, Delta State Governor, Dr. Emmanuel Uduaghan has said that his administration would put machinery in motion to surmount all challenges in order to make Delta State the Economic Hub of the Nation.
Dr. Uduaghan who disclosed this while briefing the press on the 20th anniversary celebration of the creation of Delta State in Asaba said the goal of his administration was to build a State, that was less dependent on oil.
He observed that Delta State has been faced with a lot of Challenges since its creation especially in the area of peace and was happy to note saying “This peace that we now enjoy will fast-track development that peace has eventually returned to the State.”
The Governor commended all those who contributed to his administration’s success in achieving peace in the State and promised to sustain the achievements order to enhance development in the State.
Explaining further, he stated that it was necessary to celebrate the 20th anniversary of the State because of the achievements recorded so far and called on all to join hands with his administration in realizing the dream of making the State the Economic Hub of the Nation.
“I have called you to intimate you of our 20th anniversary celebration for the creation of Delta State. It is worth celebrating after all the challenges we have fought (ethnic crisis, etc). We are now enjoying peace. Our goal is to build Delta State to become the Economic Hub of this Nation and we need the co-operation of every Deltan.”
He commended the press for its support to the Government in especially the development in the State.
The Governor urged them to be part of the 20th anniversary celebration and continue to contribute their quota in enabling the State Government achieve its goal.
“I thank the press for their support in ensuring development in the State. I want to urge you to continue to carry out balance reporting.”
Responding the Delta State Chairman of Nigeria Union of Journalist, Comrade Nobert Chiazor congratulated the Governor for his achievements in the State and promised that journalists in the State will continually co-operate with his administration in achieving its dream of making the State the Economic Hub of the Nation.
“I want to assure his Excellency, that journalists in the State will do all they can to help your administration actualize its goals.”
He thanked the Governor for the land given to the State chapter of NUJ for the building of its secretariat and assured him that the press would actively participate in the 20th anniversary celebration of the creation of Delta State.