Adamawa State House of Assembly has approved the request of the executive arm of government for an N8.7 billion loan to construct roads, hospitals and other projects.
The House’s approval of the loan followed the reading of a letter by Governor Bindow Jibrilla by the Speaker, Hon. Kabiru Mijinyawa, requesting the consent of the lawmaker to take the facility.
The Governor explained that the fund would be used for urban and rural roads’ construction as well as rehabilitation of hospitals and other developmental projects.
“The term loan (N8.7 billion) would be consolidated and restructured into the state’s existing term loan obligation of N11. 7 billion from 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 letter reads.
Deputy Majority Leader, Hon. Mohammed Mutawalli, representing Girei moved the motion for the approval and was seconded by Mallam Abubakar Abdulrahman representing 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 request was in order and that as APC members they lawmakers were committed to support any move by the APC led government in the state 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.
The House at the plenary also approved the executive’s request to restructure all commercial loans into Federal Government bond.

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