Tuesday, 13 March 2018

BREAKING: OUR DEBT PROFILE IS NOW N122BN FROM 220BN—PLATEAU STATE GOVT.


By: Valentine Adese, Alfred Saiki and Reuben Egbah,
 
Plateau state government has declared that its current debt profile stands at N122 Billion, as against the N220 Billion it inherited from the immediate past Peoples Democratic Party (PDP) administration led by Senator Jonah Jang, then as governor.
 
PLATEAU STATE MAP
Plateau State has become the first state in the federation to have openly come out in the past two and half years to declare its current debt profile from records.

This disclosure is contained in a press statement dated 12-03-18 by the State’s Commissioner for Information and Communication, Mr.  Yakubu Dati.


Mr. Dati, who was reacting to the recent allegations by the Minister of Sports, Mr.  Solomon Dalung that the state was reveling in profligacy, said that out of the Plateau State debt profile of N220 billion, which it inherited, the state is now only in debt to the tune of N122 billion.

The Commissioner for Information and Communication, Mr. Yakubu Dati, also denied that the state procured a loan of $2 billion.
 
MR. YAKUBU DATI
Mr. Dati, in the statement, charged the people of Plateau state to cross check the facts he has presented from any source, institutions or authorities.

According to the Commissioner, the facts and information concerning the loans of the state is still being processed but, would make it public immediately it is done.

FOR THE RECORD, READ THE PRESS STATEMENT OF MR. YAKUBU DATI BELOW:

PRESS STATEMENT

[3/12, 22:29] 

For The Record

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 easily 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 (ADB) 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 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 government areas of the state.

The implementation would be jointly executed by FADAMA project and a unit in the state Ministry of Agriculture. About 70 percent of the loan would be used for the provision of infrastructure, extension services, improved planting and marketing.

The whole exercise is aimed at boosting production and minimizing westages in Plateau State, which is the largest producer of Irish potatoes. The rescue administration remains focused on delivering on its mandate.

Signed:
Mr. Yakubu Dati.

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