Plateau Govt Replies Critics On Debt Burden

Governor Simon Lalong of Plateau State
Worried by what it called misleading rumours over its debt portfolios,  Plateau State Government has explained that the  debt profile of the state  is N122 billion from an inherited debt of N220 billion.
Statement by the state Commissioner for Information, Yakubu Dati said the records are available at the Debt Management Office for confirmation.
According to him, the figure of N1 trillion is ‘tales by moonlight’.
He noted that on the matter of the loan. It is still being processed and not released.
“This can easilly be confirmed on the bank’s website as attached. The amount secured by the Federal Ministry of Finance is 11 million dollars and not 2 billion dollars being bandied.
 “The facility was approved by the Federal Executive Council (FEC) meeting of Wednesday, July 26 2017“.
 Dati added that the loan was secured from the African Development Bank (AfDB) for the development of the Irish potato value chain, and the project is expected to create 60,000 jobs.
 “Plateau State would be providing N599 million as counterpart funding for the project“.
   He revealed that“ the loan has a five years moratorium thereafter whatever remained of the loan would be paid at the rate of 1% in 20 years.
   “The loan would be used to develop the Irish potatoes value chain in 17 local local government areas of the state.“
  The Commissioner further said that implementation would be jointly executed by FADAMA project and a unit in the state Ministry of Agricuture.
“About 70 per cent of the loan would be used for the provision of infrastructures, extension services, improved planting and marketing.
“The whole exercise is aimed at boosting production and minimising wastages in Plateau State which is the largest producer of Irish potatoes.“
 He maintained that the rescue administration remains focused on delivering on its mandate.


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