Taraba Assembly passes 2023 supplementary budget of N206.7bn

The Taraba State House of Assembly on Friday passed the 2023 supplementary budget of N206.7 billion.

Governor Agbu Kefas had in a letter to the House and read by the Speaker, Mr. John Bonzena, requested approval for the supplementary budget to enable his administration to execute projects for the benefit of the people of the state.

He said the budget would be sourced through loans to be taken from United Bank for Africa (UBA), Zenith Bank, Fidelity Bank and Keystone Bank.

The governor said: “The security of the facility from Zenith Bank Plc shall be deductions from Federal allocation, security for the facility from UBA Plc shall be deductions from Joint State and Local Government Account.

“Security for the facility from Fidelity Bank shall be deductions from Value Added Tax, while that of Key Stone Bank shall be deductions from Internally Generated Revenue.

“The interest rate for the facilities shall be 18 percent payable in four years.

“The facilities if secured by the state government shall be channeled to fund education,  health, agriculture, security, and infrastructural development among others.”

The House, thereafter, deliberated and passed the supplementary budget into law.

The speaker directed the clerk of the House to forward the resolution to the governor for assent.

The Assembly had earlier approved a N173 billion budget for this fiscal year.

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