Taraba 2025 appropriation provides for budgetary funding through loans-Lawmaker
Taraba 2025 appropriation provides for budgetary funding through loans-Lawmaker
The Taraba House of Assembly has said that it’s approval for the Executive to secure a N350 billion bond from the Capital Market was in line with provisions of the 2025 appropriation law.
Mr Jetro Yakubu, Majority Leader of the assembly, made the clarification on Friday while speaking to newsmen in Jalingo.
Yakubu revealed that the request to secure the loan was in tandem with the provisions of the 2025 appropriation bill passed into Law by the assembly.
He stressed that Gov. Agbu Kefas of Taraba had already indicated in the budget proposals his intention to fund part of it through loans from financial institutions.
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According to him, the request could only become abnormal if it is outside the budgetary provision.
Yakubu, who represents Wukari I State Constituency also noted that the assembly approved the loan because the governor had carried the it along right from the preparation of the Appropriation.
“The governor is a leader that believes in carrying everybody along. He had already carried the assembly along right from when the appropriation was being prepared.
“We don’t give approval for any loan that is not in the appropriation.
“The governor is a very strategic thinker. The bond which is at N20 lbillion per year would be funded through Internally Generated Revenue (IGR) and not through Federal Accounts Allocation.
“The governor is very passionate about stimulating the economy of the state so that the it can be viable to fund the bond,” he said.
The News Agency of Nigeria recalls that Kefas earlier requested an approval from the house of assembly to secure a N350 billion bond from the Capital Market.
The legislators had since granted him the approval to borrow the funds.
