A former Nigerian envoy to Trinidad and Tobago, Alhaji Hassan Jika Ardo, has raised concerns over the Taraba State government’s plan to secure a ₦350 billion bond, warning that excessive borrowing could mortgage the state’s future and cripple its economy.
Speaking in a phone interview with journalists on Wednesday, Ardo criticized the state’s borrowing trend under Gov. Agbu Kefas, stating that in less than two years, the administration had already secured loans exceeding ₦400 billion with no significant development to justify the debt.
The All Progressives Congress (APC) chieftain also faulted the Taraba State House of Assembly for approving the bond without a clear roadmap for its utilization or repayment structure.
“For some time, I have quietly observed the developments in the state, 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, aside from renovations,” Ardo said.
He alleged that despite an increase in federal allocations from ₦3 billion to about ₦13 billion monthly, alongside improved Internally Generated Revenue (IGR), the state had little to show in terms of developmental projects.
He further described the administration’s promise of free education as deceptive, stating that after two years, parents were still being misled about the provision of free school materials.
“This government is deceiving the people of Taraba, just like its predecessor under Darius Ishaku, where billions of naira remain unaccounted for,” he said, adding that Ishaku was now a regular guest of the Economic and Financial Crimes Commission (EFCC).
Ardo called on stakeholders to take action and ensure accountability, warning that history would judge those who remained silent.
However, efforts to get a response from the Special Adviser to Gov. Agbu Kefas on Media and Digital Communications, Mr. Emmanuel George, were unsuccessful, as he did not respond to messages sent to him.
Meanwhile, the Taraba State House of Assembly had on Monday approved the governor’s request to access the ₦350 billion bond from United Capital and Investment House.
The legislature stated that the funds would be disbursed in tranches of ₦20 billion over five to seven years and would be used to finance key projects in health, biotechnology, waste management, energy, tourism, mining, and infrastructure, particularly road construction.
