Plateau Debt Profile is N122Billion not N1 trillion, Says Hon. Dati

2 years 11 months ago #1849 by patrickd

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The Commissioner of Information and Communication in Plateau State Hon. Yakubu Dati has disclose in Press Statement that the State debt profile is N122billion not N1 trillion Naira as falsely claims by the Minister of Youths and Sport Barr. Solomon Dalung.

Dati in Press Statement issued to Journalists and made available to Viewpoint said the bandied figure of N1 trillion is tales by moonlight.

“For the records.
Plateau State debt profile is N122 billion from an inherited debt of N220 billion. The records are available at the Debt Management Office for confirmation. The bandied figure of N1 trillion is tales by moonlight.

“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. 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.

The loan has a five years moratorium thereafter whatever remained of the
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 implementation would be jointly executed by FADAMA project and a unit in the state Ministry of Agricuture. About 70 percent of the loan would be used for the provision of infrasture, extension services, impoved 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. The rescue administration remains focused on delivering on its mandate.


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