The Benue State House of Assembly has approved the state government’s request to obtain a N100 billion loan from the United Bank for Africa (UBA) to fund major infrastructural development projects.
The approval was granted during an emergency plenary session on Friday in Makurdi, presided over by the Speaker, Mr Alfred Emberga.
A letter dated Oct. 9 and signed by the Secretary to the State Government, Mrs Deborah Aber, on behalf of the Executive Council, conveyed the request to the Assembly.
According to the letter, the facility will be used to discount promissory instruments received from the Federal Government relating to the Nigerian Liquefied Natural Gas (NLNG) proceeds.
It stated that the loan would finance infrastructure development across the state, including the renovation and equipping of 23 general hospitals, construction and upgrade of special science schools, and completion of roads, bridges, drainage systems, and electricity projects in Makurdi, Gboko, and Otukpo.
Other projects include the establishment of skills acquisition centres, construction and equipping of smart schools in each federal constituency, rehabilitation of secondary and tertiary institutions, and infrastructure development in industrial parks and agricultural processing zones.
It added that part of the funds would also go toward the construction of facilities at the Benue State University of Agriculture, Science and Technology, Ihugh, in Vandeikya Local Government Area, as well as renovation works at the Government House and key Makurdi arterial roads.
The loan, valued at N100 billion, has a tenor of 48 months and will be repaid monthly from discounted Federal Government promissory notes and FAAC/IGR inflows.
Lawmakers, including the Majority Leader, Mr Thomas Dugeri; Minority Leader, Mr Abu Umoru; Dr Matthew Damkor (APC/Tiev); and Mr Kennedy Angbo (APC/Otukpo-Akpa), commended Governor Hyacinth Alia for his developmental initiatives, expressing optimism that the facility would accelerate growth across both urban and rural communities.
Ruling on the matter, Speaker Emberga said the House unanimously approved the governor’s request.
(NAN)