By Our Reporter
Jalingo Taraba state – May 16, 2025
The Taraba State House of Assembly has defended its approval of Governor Agbu Kefas’ request to secure a N350 billion bond from the capital market, amid growing concerns over the state’s rising debt profile.
The approval, granted less than a year after the Assembly endorsed a loan of over N200 billion, has triggered widespread reactions, particularly from opposition parties and civil society groups who have questioned the sustainability of the state’s borrowing pattern.
In an interview with The NEWSPOINTER in Jalingo, the Majority Leader of the House, Hon. Jethro Yakubu, maintained that the bond was in line with the 2025 Appropriation Law passed by the Assembly. He said the governor had clearly indicated in the budget proposal his intention to fund parts of the fiscal plan through loans.
“The request is not out of place. It was part of the budget that was debated and passed by the Assembly. We do not approve any loan that is not already captured in the Appropriation,” Yakubu said.
Representing Wukari I Constituency, Yakubu noted that the governor carried the legislature along from the onset of the budget process, ensuring transparency and legislative oversight.
He further disclosed that the bond would be repaid through the state’s Internally Generated Revenue (IGR), at N20 billion annually, and not from allocations from the Federation Account.
“The bond is targeted at stimulating economic growth and building capacity for the state to fund its obligations independently. The governor is committed to economic reforms that will improve IGR and reduce reliance on federal allocations,” he stated.
Yakubu described Governor Kefas as a strategic and inclusive leader, noting his constant engagement with both the Legislature and Judiciary as a hallmark of his governance style.
“Kefas is deliberate about carrying stakeholders along in governance. This level of engagement helps ensure continuity of projects and reduces the incidence of abandoned infrastructure,” he added.
While the Assembly’s position may calm some anxieties, critics have continued to express concern over the financial implications of successive borrowings and called for more transparency in the deployment of funds.
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