Taraba Assembly approves Gov Kefas' request to borrow N206 billion

Before passing the 2023 supplementary budget on Friday, the governor had asked the House for approval to borrow N206,778 billion from four commercial banks.The governor said the loan would be used for projects that would impact positively on the lives of Tarabans.The approved supplementary budget, according to the request, the sum of N50 billion was allocated to the Ministry of Education, N30 billion each to Agriculture, Security and Health, while infrastructure got N40 billion.

While N5.476 billion was allocated to other sectors, the House approved that N5 billion be set aside to settle gratuity and enrol more local government retirees into the state pension payroll. “The Security of the facility from Zenith Bank Plc shall be deductions from federal allocations to Taraba, Security for the facility from UBA Plc shall be deductions from Joint Accounts Allocation Committee , while Security for the facility from Fidelity Bank shall be deductions from the state’s income Value Added Tax and the Security for the facility from Key Stone Bank shall be deductions from Internally Generated Revenue .

Giving reasons for the immediate passage of the supplementary budget, the speaker, John Bonzena, said it had become necessary to pave the way for the governor to embark on projects that would herald the much-desired smiles on the faces of the people. The speaker, who noted that the state is “faced with a financial challenge”, said it would be inimical for the people of the state if the members drag their feet in passing the supplementary budget.

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