Adamawa to secure another jumbo loan as assembly okays N9.9bn package

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Adamawa Debt, Fintiri, Attorney General, Governor Fintiri, Bindow, Shila

Adamawa’s growing debt profile will soon crest to a whooping N125bn with the nod given by the state house of Assembly to governor Ahmadu Umaru Fintiri to secure another N9.9 billion debt for the state.

Fintiri himself has inherited a total of N115bn from his predecessor, according to a report presented to the governor by the transition committee shortly before he took the reins of power FOMBINATIMES learnt.

Piqued by the level of indebtedness left to him by his predecessor, Fintiri vowed to step on toes over the development.

Fintiri said it was unfortunate that Bindow had been taking overdraft to pay salary of civil servants without judicial application of incomes of the state.

But in his effort to build about 2,000 housing units for the state civil servants, the governor requested the assembly to approve N9.9 billion loan.

During their plenary sitting today after returning from recess, the lawmakers unanimously approved the loan request.

According to Governor Fintiri, the money will be used to construct 2000 Housing units for civil servants cutting across the 21 Local Government Areas in the state. 

The House has also approved the executive request for the restructuring of N6 billion loan collected by Former Governor Muhammad Umar Jibrilla (Bindow) from 24 to 36 months.

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