Niger govt seeks N675 million loan for community projects

Governor Abubakar Bello
Governor Abubakar Bello [Photo credit: National Trail Newspaers]

The Niger government is to source N675m loan for Community Social Services Projects across the 27 constituencies in the state.

Abubakar Zakari, the state’s Commissioner for Finance, made this known during a news briefing in Minna on Monday.

Mr Zakari said the different development projects vary from one community to another depending on their need but did not name them.

“The Ministry of Finance presented a memo of N675 million for the execution of community social services project and it was approved by the State Executive Council,’’ he said.

He explained that the loan which would be sourced from Zenith Bank would attract 18 per cent interest rate per annum.

“The loan will be repaid over 18 months and due process, which was followed in applying for it will also be followed in executing the projects,’’ he said.

Meanwhile, Mundi Mohammed, the state’s Commissioner for Commerce, Investment, Industry and Corporative, also told journalists that government has sold the uncompleted Niger State Development Company shopping mall at the cost of N110 million to JAIZ Bank.

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Mr Mohammed said that the shopping complex measuring 4,300 square meters was built by the immediate past government of the state led by Babangida Aliyu.

He said that the company decided to sell the shopping mall because members of the public were not interested in doing business there.

“Instead of the complex to be depreciating we decided to sell it because the more you leave it the more the value depreciates,’’ he said.

The commissioner said that part of the agreement with Jaiz bank was that it would complete the edifice, take over the complex and employ 80 per cent of indigenes of the state before starting operations.

(NAN)

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