Niger Delta
Bayelsa Pledges Judicious Use Of Loans
The Bayelsa State government has vowed not to misappropriate any loans approved under the administration of Governor Douye Diri.
According to the government, contrary to claims, the state has not received the N10 billion agricultural loan from the Central Bank of Nigeria for the proposed development of the state’s oil palm potentials.
The Commissioner for Finance, Mr Maxwell Ebibai, who made this known at the weekend during the state’s transparency briefing for July and August, said the government had not collected and misappropriated the fund.
The N10billion CBN agric loan was part of the N17billion facility which the state House of Assembly approved in November 2020 for the Diri administration to borrow from multiple sources.
“Also, N4billion would be accessed from Sustainable Development Goals Counterpart Fund, and N3billion as a revolving temporary credit facility with a 12 months’ tenor to fund state financing gap, when there is a shortfall in monthly revenue accruing to the state,” he said.
The governor had in his letter of request for the approval of the House said: “The facility from the Central Bank of Nigeria will aid the state government to develop our oil palm potential, while the Sustainable Development Goals (SDGs) Counterpart Fund is a prerequisite for the state to attract a matching grant under the SDGs.”
Ebibai said during the briefing that there was the need to clear the air in the wake of the claims in some quarters that the government had received the N10billion loan and misappropriated it.
He said: “As citizens of Bayelsa State, we agree that it is the right of every citizen to make constructive criticism and where people are not cleared with certain facts, it is appropriate that we seek clarification.
“The state government has not collected the N10billion loan for agric palm, plantain, and cassava and rice cultivation. Let us not go around raising issues about money that has not been collected.
“Money that has not been received or collected cannot be misappropriated. This can be checked with the Central Bank of Nigeria, if they have availed Bayelsa State of those facilities.
“This current government is too responsible to collect N17billion loan from the CBN and not do anything with that money.”
He added: “Let it be clear that, the government of Senator Douye Diri is too responsible to collect loan from the CBN and not do anything with that money. This government is focused and we owe the citizens of the state to apply whatever fund we received in the most transparent manner possible. Nothing has been received and nothing has been spent.’
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