The Niger State House of Assembly has approved a ?70
billion bond request by Gov. Umaru Bago to finance infrastructure projects in
the state.
The News Agency of Nigeria (NAN) reports that the bond
was approved during the plenary session in Minna on Tuesday following its
review by the House Committee on Finance, which presented its report to the
House.
Chairman of the Committee, Aliyu Wushishi, said the
bond request was part of a planned ?100 billion Private Bond issuance for 10
years.
The House unanimously adopted the committee
recommendation and approved the request of its report
The Speaker of the House, Abdulmalik Sarkin-Daji,
directed the Clerk of the House to transmit the formal approval to the
executive.
NAN recalls that the house had on May 15 during its
plenary session presided by Afiniki Dauda, Deputy Speaker, read the executive
correspondence announcing Bago’s desire to seek the bond.
The correspondence revealed that the State Executive
Council, at its 55th sitting on April 22, approved the issuance of the N70
billion out of the N100 billion Niger State 2025 bond raise programme.
In the letter to the House, the governor disclosed
that the bond issue aimed to finance critical projects in healthcare,
education, infrastructure, water supply, and inter- and intra-state
connectivity.
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