The Plateau State Executive Council (Exco) on Wednesday approved a 3 billion naira sourcing bond from the capital market. This is to assist with the financing of several capital projects.
The decision was reached during the state’s 2021 maiden meeting chaired by Governor Simon Bako Lalong. This was held at the Exco Chambers of the new Government House Little Rayfield Jos.
Mr. Dan Manjang, the Commissioner for Information and Communication disclosed that Exco approved the bond as one of its drives to ascertain the completion of some of the ongoing projects in the state. This would also help with the implementation of other critical projects.
According to the Commissioner, the internally generated revenue and federal account allocation accruing to the state were insufficient as a result of the COVID-19 pandemic. This prompted the decision to source alternative funds for the implementation of critical projects.
Dr. Mrs. Regina Soemlat, Finance Commissioner stated that the 3 billion bond is part of the 30 billion naira previously obtained for the Lalong Legacy projects. She also revealed that the required funds for the completion of the legacy projects are available. Work has commenced on all sites.
Mr. Abe Aku, Commissioner for Commerce and Industry disclosed that the Council approved the establishment of the Plateau State Cooperative Society Agency. This is to register, regulate, and monitor activities of all cooperatives in the state. This would also help boost contribution to the state’s economic development.
Aku stated that a bill will be sent to the State House of Assembly. The bill, once passed, will motivate people of the State to form cooperatives to help them access funds from various Federal Government interventions and also international development and donor agencies.
Dan Manjang, the Commissioner for information stated that the Council expresses their concern over the rise in the number of COVID-19 victims. The council has agreed to the enforcement of protocols and testing of citizens in the state.
The destruction of street lights in the capital city by motorists was roundly condemned by the council. Those involved, the council stressed, would be arrested and made to pay for the replacement of the damaged facilities.
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