Taraba State Government has debunked allegations by opposition political parties that the State is indebted to over one trillion naira, from both domestic and international sources.
The State Ministry of Finance, Budget And Economic Planning clarified that Government will continue to adhere to legislative and regulatory requirements in public borrowing and capital market transactions.
As the season of political campaigns set in, Taraba State Government has come under criticism by some opposition political parties.
One of the allegations raised against it is that the State’s debt profile stands at over one trillion naira.
This allegations has been refuted by the State Government through the ministry of Finance, Budget And Economic Planning as it gives a breakdown of the State’s status with regards to loan and other capital transactions.
The Commissioner said the about 200 billion naira loan acquired at the onset of Governor Agbu Kefas’ administration has been largely repayed.
Adi also spoke on a bond of 350 billion naira capital market facility applied for by the State, which will be accessed in tranches.
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She further explained that the State has signed a three financing agreement with the ECOWAS Bank for Investment And Development.
The agreement bothers on industry,Agriculture, and power generation development.
She noted that such agreements do not imply that funds have been disbursed, adding that the State is guided by legislative, regulatory, and disclosure requirements applicable to public borrowing.
The Commissioner also assured that the loans taken will reflect on measurable development, infrastructure and economic expansion, and also improvements the welfare of Taraba people.
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(Editor: Anoyoyo Ogiagboviogie)
