The Adamawa State Executive Council has approved the review, reconciliation, and recovery of funds owed to the state government, particularly under “Project Gazelle” at the Nigeria Governors’ Forum.
Project Gazelle is a $3.3 billion structured crude oil-backed forward-sale finance facility sponsored by the Nigerian National Petroleum Company Limited (NNPC), using Nigeria’s crude oil royalties and tax entitlements as collateral for a significant loan.
Briefing reporters after Monday’s meeting, the third for the year 2025, Commissioner for Information and Strategy, Hon. James Iliya, said the review and reconciliation were approved to ensure the state government receives all accrued funds.
The council also deliberated on compensating individuals whose land will be affected by the construction of government science and secondary schools in Madagali and Hong Local Government Areas. Hon. Iliya assured that compensation would be provided to those whose houses or properties are impacted by the projects.
Additionally, the Executive Council discussed the ongoing coronation of traditional rulers in the state. The government has invited the public to attend the coronation of Ptil Madagali, HRM Dr. Ali Danburam, on Feb. 19 in Gulak, and HRH Prof. Bulus Luka Gadiga, Mbege Ka Michika, on Feb. 20 in Michika.
According to Hon. Iliya, the coronation of new Emirs and Chiefs in Adamawa aims to enhance the state’s security architecture, bring leadership closer to the people, and reinforce the government’s presence in local communities.
