We can’t fund IPP project for now; it’ll gulp over N200b -Okowa

————-By Shedrack Onitsha——————

Delta State Governor, Senator Dr Ifeanyi Okowa has said that the state for now cannot fund the abandoned multi-billion naira Independent Power Plant (IPP) project in Oghara, as the project will gulp additional N200billion before it can come on stream.

Okowa stated this at a town hall meeting with the people of Ethiope West local government area in Oghara, noted that adequate power supply was required to boost the socio-economic life of the people of the state.

The Governor disclosed that with the economic realities of the country, it would be difficult for the state to solely sponsor the IPP project.

“We have to study the project, if I tell you that it will be functional during my administration, I will be telling you lies, a lot have been done, but, we have done the calculation but, it is obvious that we cannot execute the project as a state for now because, the project will gulp over N200 billion.

“There are two options; either we enter into private partnership with the private sector or to out rightly, sell the IPP to the private sector so that it can make the project functional, so as to create jobs for our people and other benefits derivable.”

The Governor also stated that since the country is in recession, revenue accruing to the Federal Government and other tiers of government was affected; therefore government cannot meet some of its funding needs.

“We will continue to do the best we can even with the challenging times and we will continue to remain focused,” the Governor said.

The former Governor of the state, Chief James Ibori led other prominent politicians, including Chief Ighoyota Amori to attend the town hall meeting at Oghara.