In a significant development, the Niger State House of Assembly has given the green light to a ₦70 billion bond request submitted by Governor Umaru Bago. The primary aim of this substantial financial move is to fund a series of vital infrastructure projects across the state. This approval was finalized during a plenary session held in Minna, following a thorough review by the House Committee on Finance, which presented its findings to the House.

At the heart of this financial strategy is a planned ₦100 billion Private Bond issuance that is set to span 10 years. Chairman of the Committee, Aliyu Wushishi, shed light on this ambitious plan, outlining how the approved ₦70 billion bond forms a crucial part of this larger financial undertaking. The House demonstrated a unified front in their decision, adopting the committee’s recommendation without dissent and formally approving the request as outlined in the committee’s report.

Following this approval, the Speaker of the House, Abdulmalik Sarkin-Daji, took the procedural step of directing the Clerk of the House to officially notify the executive of the decision. This move marks a significant step forward in the state’s efforts to secure the necessary funding for its infrastructure development projects. The House’s action is a response to an initial request made by Governor Bago, which was first introduced to the House during a plenary session presided over by Deputy Speaker Afiniki Dauda on May 15.

Governor Bago’s proposal stems from a decision made by the State Executive Council during its 55th sitting on April 22, where the council approved the issuance of ₦70 billion as part of the larger Niger State 2025 bond raise programme. The governor emphasized that the primary objective of this bond issue is to channel funds into critical sectors such as healthcare, education, infrastructure, water supply, and enhancing both inter- and intra-state connectivity. This comprehensive approach underscores the state’s commitment to addressing its developmental needs through strategic financial planning and investment in key areas that are pivotal to the well-being and progress of its citizens.