The Taraba state government has commenced a process with a consortium of six Nigerian banks to secure a loan facility of N150 billion to execute its programmes and policies.
Governor Agbu Kefas disclosed this while presiding over the negotiation process with representatives of the banks in Abuja.
He said the banks have a crucial role in supporting his government by providing loans and bonds, as the new administration strives to fulfill its promises to the people of Taraba state.
The governor added that the loan facility would be captured in a supplementary budget to be sent to the Taraba state House of Assembly for deliberation and approval.
He assured the banks of the commitment of the state government to honour its obligations to them and called on their representatives to be flexible and provide favorable lending terms and repayment schedules.
He highlighted that all the projects earmarked for execution have all been articulated in the budget and the loan facility would be used in financing educational projects, agriculture, quality healthcare delivery services, energy, transportation, and other critical infrastructure.
The government, he said is committed to, transparency, and accountability throughout the entire process of the negotiation and transaction.
“We are proud to assure you of our stable political environment under the umbrella of the People’s Democracy Party,” the governor added.
The governor further stressed that by supporting the Taraba state government, the banking institutions are contributing to the social and economic development of the state, as the initiatives will create opportunities for our youth, stimulate business growth and improve the overall quality of life.
