The approval of the letter sent by the State Governor,Alhaji Abubakar Sani Bello and read during the plenary by the Speaker of the House, Barrister Abdullahi Bawa Wuse before the governor’s presentation of the 2023 Appropriation Bill at the assembly complex on Tuesday in Minna.
The Governor in the letter explained that the state was desirous of accessing the loan facility in order to bridge the funding gap created by the short -falls in the monthly cash flows from the Federation Accounts Allocation Committee.
According to the letter, it stipulated a tenor of 60 months of exposure that translates to a manageable payment cost hence the facility was structured to ease it’s securement with comfort for repayment.
However, the State Legislatrure unanimously approved the loan which would be obtained through Fidelity Bank Plc without referring to the relevant committee of the house for deliberations.
