Niger State House of Assembly has cleared the air on the alleged $14.4 million funds equivalent to N20.4 billion said to have been approved by lawmakers for the Niger Food Security Systems and Logistics Company, which is untrue.
The clarification is a result of the backlash the development has received from various quarters in the state.
Assembly Speaker, Abdulmalik Sarkin-Daji, disclosed that the request was not a fresh loan by the State Government but a request to guarantee for the Niger Food Security Systems and Logistics Company through UBA to secure an investment plan from Saudi Exim Lina to support the company’s operational expansion and development of a 3,000-hectare fully irrigated farm estate situated in the state.
The Speaker said the clarification is necessary following the misconception that the State Assembly has granted a fresh loan to the State Government, while expressing displeasure over reports in some media organisations suggesting that the Assembly has advanced another loan to the Governor.
He, however, pointed out that the State Government, through the Governor, is at liberty to apply for a loan through the State Assembly if the purpose is for the development of the state, hence the House of Assembly will not hesitate to grant any genuine loan.
Sarkin-Daji further clarified that it was a presentation of a correspondence from Governor Umar Bago seeking legislative approval for a bank guarantee valued at over $14.4 million in favour of the United Bank for Africa under the Saudi EXIM Line of Financing, which the state of Niger will serve as guarantor.
He therefore disclosed that the Assembly is aware and has a record of all the loan facilities it has granted to the government since the inception of this administration.
(Editor: Terverr Tyav)
