.Dickson signs C of O on Brass Fertilizer Company
By Amos Odeh
The Bayelsa House of Assembly on Thursday recieved and approved a request seeking approval for a N40 billion facility from Governor Seriake Dickson.
The request for the facility was contained in a later dated October 30 addressed to the Speaker of Bayelsa House of Assembly Hon Kombowei Benson.
The letter seeks among other things permision to restructure existing bank loans to enable the state channel more funds to infrastructure projects.
The letter was read before the 24-member house by Clerk of the House.
According to the letter, details of the financial facility indicate that the N40 billion would be repayed in a tenor of 42 months at prevailing money market interest rate and will be secured by monthlu allocations acruing to Bayelsa from the federation account.
Hon Peter Akpe, (PDP Sagbama 1 Constitutuency), Leader of the House who led the motion for the approval of the facility explained that the government would also gurantee a loan facility of N400 million for contractors handling government projects.
He said that a consortium of commercial banks led by Sterling Bank is working with the state government to mitigate the borrowing risks which hikes the interest rates under a Contractors Infrastructure Scheme guaranteed by the state government.
He said that the state would also consilidate and restructure existing loans from commercial banks to reduce the loan repayment burden on the state.
The loan request which was tabled before the house on a public holiday, got a unanimous approval following a voice votesmafter several legislators spoke in favour of the borrowing plan.
The Bayelsa government under a law in 2012 declared November 2 as, Annual Thanksgiving Day.
It would be recalled that the house had on February 1, 2017 approved a loan request of N3 bn for purchase of cars for the legislators and security agencies.
Meanwhile, Bayelsa State Governor, Henry Seriake Dickson, on Wednesday in Yenagoa presented the Certificate of Occupancy (C of O) to the management team of the proposed Brass Fertilizer Company Limited in Bayelsa State.
The presentation took place before the kick-off of the 83rd State Executive Council meeting.
The governor, while making the presentation, said that it was a further demonstration of his administration’s desire to ensure the all important project kicks off within the shortest time.
While commending the management of BFCL for their efforts so far, Dickson announced a two-year waiver for all payable fee to enable them fulfill all pending financial commitment and obligation.
The governor also emphasized the investment potentials of Bayelsa State, noting that it is absolutely safe and conducive to do any kind of genuine business.
He said, “Bayelsa is Nigeria’s best investment kept secret. We will continue to support and partner with you to achieve this project. This is one project that will directly benefit our people and that is why we are interested in it”.
The Executive Vice Chairman of BFCL, Chief Ben Okoye, said so far it has realized about 95 percent of the funds meant to kick-start the building of the processing plant and other facilities.
He thanked the governor for the C-of-O and the cooperation they have enjoyed from his government, adding that they are looking forward with excitement to commence work immediately.
Addressing journalists after the meeting, Bayelsa State Commissioner for Industry, Trade and Investment, Kemala Okara, said that the project would create thousands of jobs both directly and indirectly.
The State Commissioner for Information and Orientation, Daniel Iworiso-Markson, described the attitude of Governor Dickson towards changing the face of Bayelsa State through such collaborative efforts as very remarkable.
Also, the Chief Economic Adviser to the Governor, Duate Iyabi, stated that the $4 billion project will attract more investors to the state and will open more vista of opportunities.
