Plateau govt to obtain N3bn bond for projects

Plateau State government is set to source for N3 billion bond from the capital market to finance some capital projects across the 17 local government areas of the state.

The State Commissioner of Information and Communication, Mr Daniel Manjang who disclosed this after the State Executive Council meeting at the Little Ray Field Government House, Jos said Exco approved the bond as part of its drive to ensure that some of its ongoing projects are completed while other critical ones are introduced.

According to him, the shortfall in internally generated revenue and federal account allocation accruing to the state due to COVID-19 has necessitated the sourcing of alternative funds to execute critical projects.

On the coronavirus pandemic, the Commissioner for Information, Dan Manjang said council raised concerns over the increase in number of deaths which as at today stands at 53 and directed more testing and enforcement of protocols throughout the state.

He said the council also frowned at the destruction of street lights in the capital city by motorists and directed that those who are involved should be arrested and made to pay for replacement.

Also the State Finance Commissioner, Dr Mrs Regina Soemlat said the 3billion bond was part of the 30 billion earlier sourced for the Lalong Legacy projects which after rescoping stood at about N27 billion.

She pointed out that all funds needed to complete the legacy projects are available and work is going on in all the sites steadily.

Commissioner for Commerce and Industry, Mr Abe Aku on his part said the council approved the establishment of the Plateau State Cooperative Society Agency to register, regulate and monitor the operations of all cooperatives in the state and also strethen their contributions to economic development of the state.

He said a bill will be forwarded to the State House of Assembly which when passed will encourage people of the State to form coperatives to enable them access funds from various Federal Government interventions as well as international development and donor agencies.


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