{"id":18557,"date":"2022-04-14T06:45:29","date_gmt":"2022-04-14T06:45:29","guid":{"rendered":"https:\/\/www.withinnigeria.com\/broadnews\/?p=18557"},"modified":"2022-04-14T06:49:19","modified_gmt":"2022-04-14T06:49:19","slug":"delta-assembly-approves-okowas-request-on-songhai-delta-farms-funding","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/broadnews\/2022\/04\/14\/delta-assembly-approves-okowas-request-on-songhai-delta-farms-funding\/","title":{"rendered":"Delta Assembly approves Okowa\u2019s request on Songhai Delta Farms funding"},"content":{"rendered":"<p><span style=\"font-weight: 400\">The Delta House of Assembly has approved a request by<\/span><a href=\"https:\/\/www.withinnigeria.com\/broadnews\/2022\/01\/05\/delta-state-governor-ifeanyi-okowa-mourns-olubadan-of-ibadan\/\"><span style=\"font-weight: 400\"> Gov. Ifeanyi Okowa<\/span><\/a><span style=\"font-weight: 400\"> for a shareholders agreement between the state government and Adventium Global Delta Consortium Limited.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The agreement is toward improved funding of Songhai Delta Farms, Amukpe.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The Speaker of the state House of Assembly, Chief Sherriff Oborevwori, had read Okowa\u2019s letter containing the request during the plenary of the Assembly in Asaba.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Okowa, in the letter, explained that the agreement was part of efforts by the state to leverage the Public-Private Partnership (PPP) model of securing funding for the development of critical State assets\/infrastructure.<\/span><\/p>\n<p><span style=\"font-weight: 400\">He said that the initiative was also geared toward providing jobs for the teeming youths in the State.<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201dThe State Government has entered into a 30-year arrangement with the company\u2013Adventium Global Delta Consortium Limited.&#8221;<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201dThe arrangement is expected to inject in excess of N14 billion into the Songhai Delta Farms, Amukpe in Sapele Local Government Area of the state. The arrangement would ensure that the facility is run by means of special purpose vehicle,\u201d the letter read.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The Majority Leader of the Assembly, Chief Ferguson Onwo, moved a motion for the Assembly to approve the governor\u2019s request.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Mr. Charles Emetulu, a member representing Ndokwa West Constituency, seconded the motion.<\/span><\/p>\n<p><span style=\"font-weight: 400\">It was unanimously adopted by the House when put to a voice vote by the speaker.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Also,\u00a0 the House approved a request by the governor for an amendment to the take-off month for the already approved N20 billion credit facility from Fidelity Bank PLC.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The facility will be used to finance the state government\u2019s Investment of five percent equity in UTM offshore Limited\u2019s Floating Liquefied Natural Gas FLNG Project under the Central Bank of Nigeria CBN real sector support Fund\/differentiated cash reserve requirement window.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The Assembly had earlier approved the take-off from March this year,\u00a0 but it has been adjusted to April.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Okowa said that other conditions remained unchanged and appealed to the House to graciously approve the change in the take-off month for the credit facility.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The motion for approval was also moved by the Majority leader of the House.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Mr. Dennis Guwor, a member representing Warri southwest Constituency, seconded the motion.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The motion was approved by the House following a voice vote.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Delta House of Assembly has approved a request by Gov. Ifeanyi Okowa for a shareholders agreement between the state government and Adventium Global Delta Consortium Limited. The agreement is toward improved funding of Songhai Delta Farms, Amukpe. The Speaker of the state House of Assembly, Chief Sherriff Oborevwori, had read Okowa\u2019s letter containing the [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":18648,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"footnotes":""},"categories":[20,11],"tags":[65,4201],"class_list":["post-18557","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-metro","tag-gov-ifeanyi-okowa","tag-songhai-delta-farms-funding"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.8 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Delta Assembly approves Okowa\u2019s request on Songhai Delta Farms funding &#187; BROAD NEWS \u2014 WITHIN NIGERIA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.withinnigeria.com\/broadnews\/2022\/04\/14\/delta-assembly-approves-okowas-request-on-songhai-delta-farms-funding\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Delta Assembly approves Okowa\u2019s request on Songhai Delta Farms funding\" \/>\n<meta property=\"og:description\" content=\"The Delta House of Assembly has approved a request by Gov. 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