The Taraba state government is making negotiation with a consortium of six Nigerian banks to secure a facility worth N150 billion naira.
The loan according to the government is to enable it carry out projects across the state.
This was disclosed by the state governor, Agbu Kefas while presiding over the negotiation process with representatives of the banks in Abuja.
Governor Kefas noted that the banks have a crucial role in supporting his government by providing loans and bonds, as the new administration strives towards fulfill its promises to the people of the state.
He explained that the loan would be captured in the supplementary budget which would be sent to the Taraba State House of Assembly for approval.
The governor reiterated his the state to honour its obligations to banks and called on their representatives to be flexible and provide favorable lending terms and repayment schedules.
Furthermore, Kefas said, all the projects earmarked for execution have all been articulated in the 2023 budget.
“The loan facility would be used in financing educational projects, agriculture, quality healthcare delivery, energy, transportation, and other critical infrastructure, he said.
“The government is committed to, transparency, and accountability throughout the entire process of the negotiation and transaction.
“We are proud to assure you of our stable political environment under the umbrella of the Peoples Democracy Party.
“By supporting the Taraba state government, the banking institutions are contributing to the social and economic development of the state.
The initiative will create opportunities for our youth, stimulate business growth and improve the overall quality of life of our people.