Makurdi, Nigeria: In a swift emergency session, the Benue State House of Assembly approved Governor Hyacinth Alia‘s request to access a ₦100 billion loan from United Bank for Africa (UBA) to fast-track statewide infrastructure.
The house presided over by the Speaker, Mr Alfred Emberga, granted the approval at an emergency plenary on Friday in Makurdi.
Emberga read a letter dated October 9 and signed by the Secretary to the State Government (SSG), Mrs Deborah Aber, on behalf of the Benue Executive Council.
The governor requested assent from BSHA to access a N100 billion term loan facility from the United Bank for Africa (UBA).
“To discount the promissory instrument received from the Federal Government in respect to the Nigerian Liquefied Natural Gas (NLNG).
“The purpose of the loan is to finance infrastructure development projects across the state, including the renovation and equipping of 23 general hospitals.
“The loan was also for the renovation and building of special science schools statewide as well as the completion of ongoing roads, bridges, drainage and electricity projects, including the Makurdi, Gboko and Otukpo internal roads.
“The other purpose of the loan facility is for the building of skills acquisition centres and building and equipping smart schools in each federal constituency.
“It is also for the renovation and equipping of secondary and tertiary institutions and the provision of infrastructure in designated industrial parks, including agricultural processing projects,” it added.
According to the letter, the loan is also for the construction of buildings and provision of equipment for the Benue State University of Agriculture, Science and Technology, Ihugh, in Vandeikya Local Government Area.
The loan was also to be used for any other infrastructure project approved by the Executive Council, renovation and additional buildings in Government House and urgent work on Makurdi arterial roads.
“The term loan is negotiated with the following terms: the facility amount of N100 billion for contractor infrastructure financing with a tenor of 48 months, with monthly repayment.
“The repayment source shall be from discounted Federal Government promissory notes and Federal Allocation Accounts Committee-Internally Generated Revenue (FAAC/IGR) inflow,” it added.
In their separate comments on the letter, the Majority Leader, Mr Thomas Dugeri; the Minority Leader, Mr Abu Umoru; Dr Matthew Damkor (APC/Tiev); and Mr Kennedy Angbo (APC/Otukpo-Akpa) applauded Gov. Hyacinth Alia for his developmental strides in the state.
The lawmakers stated that the loan would lead to significant progress and development in both urban and rural areas.
Ruling, Emberga said that since members were not opposed to the request, it was therefore approved.