Recognising the urgency to resolve the backlog of pension dues owed to retired primary school teachers and local government employees, the Delta State House of Assembly has given its consent to Governor Sheriff Oborevwori’s request for a loan of ₦40 billion from Zenith Bank Plc.
This funding will help alleviate the burden and ensure prompt payment of pensions.
In a letter addressed to the House, the governor elaborated on the objective of the loan. Its primary focus is to support the 25 councils in the state by alleviating a large portion of the accrued pension liabilities faced by local government pensioners.
During the plenary session, the Speaker of the House, Emomotimi Guwor, read out a letter that highlighted the conditions necessary for accessing the approved loan. This approval was granted as a result of meeting the relevant requirements.