Adamawa Assembly approves N8.7bn loan for roads, other projects

Posted by newsexpress | 14 August 2015 | 3,660 times

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The Adamawa State House of Assembly has approved the request of N8.7 billion loan for the execution of roads, hospitals and other projects.

The approval followed the reading of a letter from Governor Bindow Jibrilla to the house by its Speaker, Kabiru Mijinyawa, requesting for the approval.

According to the letter, the fund will be used for urban and rural roads’ construction as well as rehabilitation of hospitals and other developmental projects.

“The term loan (N8.7) will be consolidated and restructured into with the state's existing term loan obligation of N11. 7 billion with Zenith Bank Plc.

“In view of the urgency of this restructuring exercise by the Federal Government of Nigeria, we hereby seek your kind understanding and consideration for the issuance of a house resolution approving the N8.7 billion term loan.”

The Deputy Majority Leader, Mallam Mohammed Mutawalli (APC-Girei), moved the motion for the approval of the loan and was seconded by Mallam Abubakar Abdulrahman (APC-Mubi South).

Commenting on the express approval granted the request by the House,

Abubakar Abdulrahaman, who is the House Chairman; Committee on Appropriation, Finance and Budget, said the lawmakers were would always support moves by the state government to fast-track development in the state.

“We promised change and will never hesitate to support our party-led government in its effort to bring change.” (NAN)

Photo shows Gov. Bindow Jibrilla

Source: newsexpress

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