Taraba State Governor, Agbu Kefas, has signed the N206,776,000,000bn supplementary budget into law shortly after the State House of Assembly expedited its consideration. Earlier in the day, the lawmakers had granted approval for the governor’s request to obtain a N206 billion loan from four commercial banks.
The loan has a repayment plan of four years and will be serviced using the state’s Federal Account Allocation, Joint Account Allocation, Value Added Tax, and Internally Generated Revenue, with an 18% interest rate and a 5% administrative charge to be deducted upfront.
Following the assent of the supplementary budget, the state’s total budget for 2023 now amounts to N380,010,537,456.40. This includes the additional N173,234,537,459.40 which was approved by the former governor of Taraba state, Darius Ishaku, for the 2023 fiscal year in December 2022.
The signing of the supplementary budget was witnessed by the State Deputy Governor, Alhaji Aminu Alkali, Speaker of the State House of Assembly, Rt Hon. John Bonzena, the acting Chief Judge, Justice Filibus Agya, Secretary to the State Government, Chief Gebon Kataps, and the Majority Leader of the House, Hon. Jethro Yakubu, as stated in a press release by the Chief Press Secretary to Gov. Kefas, Yusuf Sanda.
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