I Have So Far Borrowed N10 Billion, Says Ortom
IN view of conflicting reports concerning borrowed funds by the Benue State Governor, Samuel Ortom, the governor has explained that his administration has so far borrowed N10 billion.
Ortom, who made the clarification during a thanksgiving service at the Power House of Solution Chapel, Gboko, further explained that even the N5.5 billion approved by the State House of Assembly for counterpart funding with development partners was yet to be accessed.
He said N3.2 billion, out of that amount, would be matched with the same figure provided by the Universal Basic Education Commission (UBEC) for infrastructural development in primary schools, while the rest would be committed to projects by other development partners in various sectors.
The governor stated that the loan was used for the payment of salaries for two months, for the take off and accreditation of College of Health Sciences of the Benue State University (BENSU), for ongoing renovation of the School of Nursing and Midwifery, Makurdi, for reaccreditation as well as provision of laboratories at the College of Agriculture Yandev and Agriculture Training Centres at Mbatie and Otobi.
According to him, the N28 billion Central Bank of Nigeria loan facility was a bailout arrangement for 24 states, including Benue, which owed salary arrears, adding that it was to be obtained at a single digit interest, while repayment is spread over 20 years.