Why we approved fresh N350bn bond for Gov Kefas — Taraba Assembly

The Taraba State House of Assembly has justified the approval granted to the State Governor, Dr. Agbu Kefas, to secure a N350 billion bond from the capital market.

The approval for the governor to obtain the N350 billion bond came barely a year after the Assembly approved a loan of over N200 billion, generating mixed reactions among the state’s indigenes, particularly from opposition elements.

Speaking in an exclusive interview with Nigerian Tribune in Jalingo, the Majority Leader of the Assembly, Hon. Jethro Yakubu, revealed that the request to secure the loan aligns with the provisions of the 2025 Appropriation Bill passed into law by the Assembly.

He stressed that the governor had already indicated in the budget proposals his intention to fund part of the budget through loans from financial institutions, noting that the request would only be considered abnormal if it fell outside the budget provisions.

Shedding more light on the issue, Yakubu, who represents Wukari (I) Constituency, noted that the Assembly approved the loan because the governor involved the Assembly right from the preparation of the Appropriation.

According to him, “The governor is a leader who believes in carrying everybody along. He involved the Assembly right from when the Appropriation was being prepared. We do not give approval for any loan that is not included in the Appropriation.”

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“The governor is a very strategic thinker. The bond will be funded through Internally Generated Revenue (IGR), not Federal Account allocations, which stand at N20 billion a year. The governor is very passionate about stimulating the state’s economy so that it can generate enough revenue to fund the bond.”

The Majority Leader described Kefas as the best governor in the history of the state due to his penchant for teamwork and strong commitment to involving stakeholders in every decision he makes.

“Kefas is the best governor in the history of Taraba State. He always engages the Legislative and Judiciary arms in every decision he takes. He believes that one day he will no longer be at the helm of affairs. Lack of engagement has always been the bane of abandoned projects across the country, so he’s trying to avoid that,” the Majority Leader concluded in defense of the governor.