Jigawa House of Assembly entrance
Jigawa State Assembly has granted a request of Governor Badaru Abubakar for the state government to secure an internal loan of over N18.7 billion.
Tribune Online gathered that the assembly granted the loan request during a special plenary session held on Monday afternoon.
Governor Badaru submitted the request in a letter sent to the assembly and addressed to the speaker of the house. The letter was presented on the floor of the house by the Majority Leader of the house, Honourable Habu Maigatari.
The letter obtained by Tribune Online in the state titled “Offer Bridging Finance to Cushion the Effect of Loan Payment by the Federal Government” was signed by the acting governor and deputy governor, Alhaji Umar Namadi.
The governor stated in the letter that “I am pleased to inform the honourable speaker that the state government is in receipt of a letter from the federal ministry of finance, budget and national planning notifying us of the gracious approval of the president for bridging loan facility of about N656.112 billion available to 35 out of 36 states of the federation.”
According to the governor, “this facility is to help cushion the effect of the payment of existing federal government intervention facilities to the states of the federation and Jigawa state inclusive.”
The letter further revealed that “the total loan amount to Jigawa State is N18,746,059,992.57, to be paid in 30 years with nine percent (9%) interest per annum on monthly repayment mode and a moratorium period of two years.”
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