PLATEAU: SEC Approves Sourcing Of N3b Bond For Capital Projects

28 January 2021 By Josiah Buzun.

The Plateau State Executive Council has approved the sourcing of a 3 billion naira bond from the capital market to finance some capital projects.

This was one of the decisions taken during its first meeting for 2021, presided over by Governor Simon Bako Lalong at the Government House in Jos. 

Briefing journalists after the meeting, the State Commissioner for Information and communications Mr. Dan Manjang said the Exco approved the bond as part of its drive to ensure that some of its ongoing projects are completed and embark on new ones.

He said the shortfall in internally generated revenue and federal allocation to the State due to COVID-19 necessitated the sourcing of alternative funds to execute critical projects.

On the Corona virus pandemic,  Manjang said the Council raised concerns over the increase in number of deaths and directed more testing and enforcement of protocols throughout the State.

Finance Commissioner Dr Regina Soemlat said the 3b bond is part of the 30 billion naira earlier sourced for the Lalong Legacy projects.

According to her, all funds needed to complete the legacy projects are available and work is ongoing in all the sites steadily. 

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