May 08, (THEWILL) – Benue state House of assembly has granted approval to the Benue state government, to access over N41 billion loan facilities from two commercial banks.
The facilities when accessed will be used for payment of salaries of state civil servants, retirees pensions and other emoluments.
The House gave the approval during Friday’s emergency plenary, following a corresponding from governor Samuel Ortom and read on the floor by Mr Speaker, Titus Uba.
According to the corresponding, governor Ortom explained that the state government have resolved to access the federal government through the Central Bank of Nigeria’s intervention funds by way of loan facility of over N17 billion from the United Bank for Africa and N24.2 billion from the Fidelity Bank Plc.
It will be recalled that the state government has secured many loan facilities since its inception in 2015, including the N6 billion in 2021 facility to finance counterpart funds, infrastructural development and other needs of government.
