Nigeria’s former Ambassador to Trinidad and Tobago, Hassan Jika Ardo, has raised the alarm over what he described as the mortgaging of Taraba State’s financial future. His concern comes in the wake of the House of Assembly’s approval for Governor Agbu Kefas to secure a N350 billion bond.
In a telephone chat yesterday, Ardo criticised the borrowing spree of the current administration, stating that in less than two years, the governor had secured loans exceeding N400 billion, “with no significant developmental projects to justify the debt.”
The All Progressives Congress (APC) chieftain expressed shock at the lawmakers’ approval of such a substantial loan without a clear roadmap for its utilisation or a defined repayment plan.
His words: “For some time now, I have observed developments in the state quietly, but things seem to be getting out of hand. This government has not initiated and completed a single project since its inception nearly two years ago – just renovations.”
He alleged that despite a surge in federal allocations – from about N3 billion to N13 billion monthly, as well as increased internally generated revenue (IGR) – there was little to show in terms of tangible progress.
The ex-envoy added: “The House of Assembly should have checkmated the governor’s activities, but instead, they have approved a staggering N350 billion bond. This is dangerous, especially given the governor’s apparent lack of direction.”
He compared the Kefas administration unfavourably to that of former Governor Darius Dickson Ishaku’s, whom he had previously criticised for failing to meet the expectations of the electorate.
The legislature recently approved the N350 billion bond from United Capital and Investment House. Speaker John Bonzena presented the governor’s request during plenary on March 24.
According to the House, the bond is earmarked for critical development projects in the 2025 budget, including health, biotechnology, waste management, energy, tourism, mining, and road infrastructure. The funds, as gathered, are to be disbursed in N20 billion tranches over five to seven years.
