Governor Umar Mohammed Bago of Niger State has formally requested the State House of Assembly to approve a N70 billion bond aimed at financing key developmental projects.
The governor submitted the proposal during a plenary session, emphasising the urgent need for funds to address critical infrastructure challenges and improve public services.
According to the governor, the bond will be utilised for strategic projects that are essential for the socio-economic development of the state.
He explained that the government’s focus is on upgrading road networks, enhancing healthcare facilities, boosting education, and revitalising the agricultural sector. Governor Bago highlighted that these projects, once completed, would significantly improve the quality of life for the residents and foster economic growth.
The governor also assured the lawmakers that the bond would be managed transparently and that mechanisms would be put in place to ensure accountability.
He noted that the decision to seek the bond was not taken lightly, but after thorough consultations with financial experts who advised that the move would be economically viable given the state’s projected revenue.
Governor Bago outlined that part of the funds would be allocated to complete ongoing projects that were left unfinished by previous administrations. He stressed that abandoning these projects would be wasteful, given the resources already invested.
According to him, the state’s debt profile remains manageable, and the bond would be structured to ensure minimal financial strain.
The governor addressed these concerns, reiterating that the state government would adopt a transparent approach throughout the process. He promised to work closely with financial institutions to structure the bond in a way that minimises risk.
Bago also emphasised that community leaders and civil society organisations would be involved in monitoring the projects to ensure they align with public expectations.
Governor Bago urged lawmakers to consider the long-term benefits of the bond, emphasising that infrastructure investment would lay the foundation for sustainable development.
Bago called for bipartisan support, insisting that the proposal aims to uplift the state’s socio-economic standing and improve the lives of its citizens.
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cc: Daily Post Ng
