Niger Assembly Approves 14.4 Million US Dollars to Finance a Private Niger Foods Company
By YM Bina
The Niger State House of Assembly have again approved over 14.4 Million United States Dollar to finance a private Niger Foods Security Systems and Logistics Company in the state.
The Speaker, Niger State House of Assembly, Barrister Abdulmalik Sarkin- Daji disclosed at a plenary session after resumption from the short Sallah recess at the assembly complex in Minna.
Sarkin-Daji announced a presentation of a correspondence from Governor Mohammed Umaru Bago seeking legislative approval for a bank guarantee valued at $14,445,007.06 in favour of the United Bank for Africa (UBA) under the Saudi EXIM Line of Financing.
The proposed facility, had gotten the approval of the State Executive Council at its 563rd meeting which is intended to support the operational expansion of the Niger Foods Security Systems and Logistics Company.
According to the Governor’s request, the financing package, which carries an 84-month tenure and an 18-month moratorium period, will fund the development of a fully irrigated 3,000-hectare agricultural estate in Paikoro Local Government Area, a project expected to boost food production, enhance agricultural value chains, and strengthen food security across the state.
Governor Bago however, urged the state assembly to grant speedy approval to facilitate the timely execution of the project, which aligns with his administration’s agricultural transformation agenda.
The Speaker on the resumption of the legislative activities after the Eid-el-Kabir break with renewed focus on governance, accountability, and economic development.
According to him, as lawmakers considered a major agricultural financing request from Governor Mohammed Umaru Bago and approved key recommendations aimed at strengthening financial management across the local governments of Niger state.
He had welcomed members back from the short recess and congratulated those who secured party tickets for the forthcoming general elections.
Abdulmalik Sarkin-Daji also extended words of encouragement to members who were unsuccessful in their political pursuits, noting that every outcome is ultimately guided by the will of Almighty God.
Comments are closed