The Taraba State House of Assembly has defended its recent approval of Governor Agbu Kefas’ request to secure a N350 billion bond from the capital market, saying the move aligns with the state’s 2025 Appropriation Law.
The approval, which follows an earlier endorsement of over N200 billion loan within the past year, has sparked concerns among some residents and members of the opposition. However, the Assembly insists that due process was followed.
Speaking to THISDAY in Jalingo, the House Majority Leader, Mr. Jethro Yakubu, clarified that the bond was part of the financing framework outlined in the 2025 budget submitted by the executive and passed by the legislature.
“The governor is a leader that believes in carrying everybody along. He already involved the Assembly right from when the appropriation was being prepared,” Yakubu said.
He further explained that the bond would be funded through internally generated revenue (IGR) at a rate of N20 billion annually, not from federal allocations. He described the initiative as a strategic plan to stimulate the state’s economy.
Yakubu, who represents Wukari I Constituency, stated that the Assembly would not approve any borrowing request that was not clearly stated in the budget framework.
“The request only becomes irregular if it is outside the budget provision,” he said.
He praised Governor Kefas for his consultative leadership style, noting that regular engagement with the legislature and judiciary has been key to ensuring transparency and accountability in governance.
“Kefas is the best governor in the history of Taraba State. He believes one day he will no longer be in office, so he’s building structures that can last. His team approach helps prevent project abandonment,” the Majority Leader added.
