Wednesday, June 3, 2026 -The Niger State House of Assembly has approved Governor Umaru Mohammed Bago’s request for a N20.4 billion loan facility to boost the state’s food security initiative through the development of a large-scale irrigated farming project.
The approval was granted during Tuesday’s plenary session
following the presentation of a letter from the governor addressed to the
Speaker of the House, Rt. Hon. Abdulmalik Sarkindaji.
The letter was read on the floor of the Assembly by the
Speaker.
In the letter, Governor Bago sought legislative approval for
a bank guarantee in favour of the United Bank for Africa (UBA) for a facility
valued at $14,445,007.06 (approximately N20.4 billion) under the Saudi EXIM
Line of Finance for the Niger Food Security Systems and Logistics Company.
The governor explained that the State Executive Council, at
its 563rd sitting held on May 18, 2026, deliberated on and approved the
facility before forwarding the request to the Assembly for legislative
consideration.
According to him, the request is in compliance with relevant
provisions of the 1999 Constitution (as amended) and other applicable state
laws.
He stated that the loan, which has a tenure of 84 months
with an 18-month moratorium, is intended to finance the operational expansion
of the Niger State Food Security Systems and Logistics Company.
The facility will specifically support the development of a
3,000-hectare fully irrigated farm estate in Paikoro Local Government Area of
the state.
Governor Bago appealed to lawmakers for the speedy
consideration and approval of the request.
Following the reading of the letter, the Assembly moved into
an executive session, after which members unanimously approved the loan
request.
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