Taraba govt seeks N150 billion loan from consortium of banks

The Taraba government has begun negotiations with a consortium of six Nigerian banks to secure a facility worth N150 billion naira for projects.

Governor Agbu Kefas of Taraba state made this known while presiding over the negotiation process with representatives of the banks in Abuja.

Mr Kefas said the banks have a crucial role in supporting his government by providing loans and bonds, as the new administration strives towards fulfilling its promises to the people of the state.

He said that the loan would be captured in the supplementary budget which would be sent to the Taraba State House of Assembly for approval.

The governor assured the banks of the commitment of the state to honour its obligations to them and called on the bank representatives to be flexible and provide favourable lending terms and repayment schedules.

Governor Kefas said that all the projects earmarked for execution have all been articulated in the 2023 budget.

He added that the loan facility would be used in financing educational projects, agriculture, quality healthcare delivery, energy, transportation, and other critical infrastructure.

“The government 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 Peoples Democracy Party.

“By supporting the Taraba state government, the banking institutions are contributing to the social and economic development of the state.

“And the initiative will create opportunities for our youth, stimulate business growth and improve the overall quality of life of our people,” Mr Kefas added.


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