Healthcare: Delta Assembly approves N1.64bn payment order to Fidelity Bank

Healthcare: Delta Assembly approves N1.64bn payment order to Fidelity Bank

ASABA—DELTA State House of Assembly, yesterday, approved a request by the state to issue an irrevocable standing payment order to Fidelity Bank in respect of the remodeling of the Central Hospital, Asaba. File: House of Assembly The request was contained in a letter sent to the House by the Acting Governor, Mr. Kingsley Otuaro and

ASABA—DELTA State House of Assembly, yesterday, approved a request by the state to issue an irrevocable standing payment order to Fidelity Bank in respect of the remodeling of the Central Hospital, Asaba.
File: House of Assembly
The request was contained in a letter sent to the House by the Acting Governor, Mr. Kingsley Otuaro and read by the Speaker, Mr. Sheriff Oborevwori at plenary.
The acting governor said the state government originally awarded the contract for the remodelling of the Central Hospital Asaba to Deux Project Limited at the sum of N2. 29 billion.
He said during the course of the project execution, the initial contract sum was reviewed upward due to price fluctuations and additional works amounting to N427.7 million.
He added that a contract for the construction of internal roads and parking lots within the hospital premises was awarded to the same contractor at the sum of N242.14 million.
Otuaro noted that due to the damaged hospital perimeter wall occasioned by the 2017 flood in Asaba metropolis it became necessary for the state government to reconstruct the fence with concrete at the cost of N46.24 million bringing the total contract sum to N3 billion.
According to the letter the state government had already paid the contractor the sum of N1.94 billion leaving a balance of N1.06 billion.

He said the state Executive Council at its fourth meeting, ratified the governor’s approval for the completion of the project through contract financing to be provided by Fidelity Bank as a term loan facility of N1.06 billion.
According to the letter, the project would be executed by Open House Property Management Company Limited, a sister company of Duex Project Limited, adding that the purpose of the letter was to seek the authorisation of the House for the state government to issue an appropriate Irrevocable Standing Payment Order ISPO in favour of Fidelity Bank for the full repayment of the facility amounting to N1.06 billion with equal monthly installments of N143.75 million for a period of eight months .
The Majority Leader, Chief Tim Owhefere moved separate motions for the House to receive and approve the request of the Acting Governor.
The motions were seconded by Mr. Peter Onwusanya, Oshimili South and Dr. Alphonsus Ojo, Ukwuani Constituency.

editor
AUTHOR
PROFILE

Posts Carousel

Leave a Comment

Your email address will not be published. Required fields are marked with *

Latest Posts

Top Authors

Most Commented

Featured Videos

get_footer(); ?>