Delta State House of Assembly has approved a request by Governor Ifeanyi Okowa for an offer of a banking facility to the tune of N25 Billion.
The approval was given on Tuesday at the resumed plenary of the House.
The credit facility which would be sourced from First Bank Monument Bank Plc, in a letter conveying the request which was read at Tuesday’s Plenary by the Speaker of the State Assembly, Rt Hon Sheriff Oborevwori, would be tailored towards Oil Palm Development in the state.
Okowa explained that the Oil Palm Development proposed to sit on a capacity of 17,345.5 hectares, is in line with the State Government’s participation in the ongoing Central Bank of Nigeria, CBN oil palm Development initiative.
Motion for the approval of the request was moved by the Majority leader, Ferguson Onwo and unanimously adopted.
Meanwhile, the House has received two separate Bills forwarded to it by Governor Okowa.
They include; A Bill for a law to improve the administration of Justice procedures in the state and A Bill for a law to repeal the arbitration law 1918, Cap A13 Laws of Delta State.
The first reading of the two bills is expected when the House reconvened plenary on Tuesday, next week.