The Plateau State government has approved the sourcing of a N3 billion bond from the capital market to finance capital projects in the state, according to the state Commissioner for Information, Dan Manjang.
Manjang who made this known on Friday while briefing newsmen after the state Executive Council meeting held at the Government House in Rayfield, Jos, said the decision was taken at the maiden meeting of the Exco for 2021 presided over by Governor Simon Lalong.
Also speaking on the bond, the Commissioner for Finance, Mrs. Regina Soemlat and the Commissioner for Commerce and Industry, Abe Aku, gave highlights of the decisions taken at Council at the news briefing.
Manjang added that the “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.”
He also said 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.”
Soemlat added that the N 3billion bond was part of the N30 billion earlier sourced for the Lalong Legacy Projects which, after re-scoping, stood at about N27 billion.
According to her, all funds needed to complete the legacy projects are available and work is ongoing at all the sites.
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