Okowa to take N25 billion loan for oil palm
The Delta House of Assembly on Tuesday approved a request by Governor Ifeanyi Okowa to take a N25 billion loan for oil palm production.
The governor’s request was contained in a letter read at a plenary session by the Speaker, Sheriff Oborevwori.
Mr Okowa explained that the loan to be taken at the First City Monument Bank Plc would develop 17,345.5 hectares of palm plantation, designed to take advantage of CBN’s oil palm development initiative.
Motion for the approval of the governor’s request was moved by the majority leader of the parliament, Ferguson Onwo, and seconded by the minority leader Innocent Anidi.
(NAN)
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