Taraba State government on Wednesday commenced negotiations with a consortium of six Nigerian banks to secure a loan facility worth 150 billion naira to execute its programmes and policies.
Mr. Yusuf Sanda, chief press secretary to Governor Kefas disclosed this in a press statement, quoted the Governor as saying, “the banks have a crucial role in supporting his government by providing loans and bonds for the administration to fulfill its promises to the state.
According to the statement, the loans facility would be captured in the next supplementary budget to be sent to the Taraba State House of Assembly for deliberation and approval.
“I want to assure the banks of our full commitment to honour its obligations. I also wish to appeal to the bank’s representatives to be flexible and provide favorable lending terms and repayment schedules for us.
“I wish to disclose here that all the projects earmarked for execution have been articulated in the budget and the loan facility will be used in financing development sectors. We will ensure transparency and accountability throughout the process of the negotiation and transaction, as the initiative is key to creating income opportunities for youth in the state, stimulate business growth and improve the living conditions of the citizens,” the statement quoted.
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