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Plateau government clarifies debt profile

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Governor Simon Lalong of Plateau State.

Plateau State Government has said that the debt profile of the state stands at N122b out of an inherited debt of N220b, stressing that an alleged N1tr debt is neither here nor there.

The state Information Commissioner, Mr. Yakubu Dati, who dropped the hint, declared that the records are available at the Debt Management Office for all to see.

Dati said the loan being sought by the government is still being processed, and that contrary to reports, the amount secured by the Federal Ministry of Finance is $11m and not $2b.

While pointing out that the facility was approved by the Federal Executive Council (FEC) meeting of Wednesday, July 26 2017, Dati declared: “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 N599m as counterpart fund for the project.

“The loan has a five-year moratorium. Thereafter, whatever remained of the loan would be paid at the rate of one per cent in 20 years. The loan would be used to develop the Irish potatoe value chain in 17 local government areas of the state.


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