Adamawa Assembly Approves N17 Billion Executive Loan Request – Nigeria – The Guardian Nigeria News – Nigeria and World News
Zulum engages 28 Borno communities for food security
Adamawa State House of Assembly (ADHA) approved a 17 billion naira loan facility requested by Governor Ahmadu Fintiri for the execution of certain critical projects in the state.
Fintiri had requested the approval of ADHA to obtain the loan from two commercial banks for the execution of projects in the 21 state councils. The request was contained in two separate letters and read at the resumed plenary session chaired by the president, Aminu Abbas.
According to the letters, the state government will get N15 billion from Fidelity Bank to be repaid within 48 months at an interest rate of 13 percent and a management fee of 0.5 percent.
The governor added that another billion naira would be requested from Access Bank for a 10-month term at an interest rate of 4.5% until February 2021 and at an interest rate of 9% from of March 1, 2021.
He said: “The 2 billion naira loan facility is the initiative of the Central Bank of Nigeria (CBN) extended to all 36 states in the federation to fight COVID-19.” If approved, the loan would be used to build and expand health facilities and acquire medical equipment, the governor said.
The letters quickly referred to the Standing Committee on Finance, Budget and Appropriations chaired by Kate Raymond Mamuno for consideration. Meanwhile, Borno State Governor Babagana Zulum has urged communities on the shores of Lake Alau to ensure food security.
The decade-long Boko Haram terrorism interrupted farming activities, with farmers killed on their farmland. The 28 farming communities are located in the state councils of Konduga and Jere.
Zulum announced the food security initiatives on Tuesday while interacting with refugee farming communities around Lake Alau. On how to achieve food security, Zulum said, “Today’s visit to farming communities on the shores of the lake was aimed at ensuring food security in the state.
“This administration is targeting approximately 28 communities along the shores of Lake Alau in the first phase of the return-to-farm initiatives.” During the visit, the governor personally interacted with the farmers who were clearing the farms or planting.
“Our intention is to resettle the 28 communities around this place. We built trenches from Dalori village to Molai community. We are currently in consultation with the military, God willing, to return all internally displaced persons (IDPs) to their communities before the end of this year.
“I assure the people of the government’s support to allow farmers to return to their farmland. This singular act will make our people happy and food sufficient. However, the commander of Task Force 251 Battalion presented the governor with a medal in appreciation of his support for the military.