The All Progressive Congress (APC) in Plateau state has objected to the approval of N15 billion loan for Governor Caleb Mutfuwang by the state assembly.
The assembly had approved the loan request for the governor to pay salary and purchase agricultural facilities for farmers.
But in a statement by its publicity secretary, Sylvanus Namang, APC faulted the process, aruguing that it was too early for the Peoples Democratic Party (PDP) administration to start collecting loans of such magnitude.
“This bogus N15 billion loan approval is particularly more worrisome because for a loan to be collected, the following steps as clearly spelt out in the Plateau State Debt Management Law, passed by the Plateau State House of Assembly and assented to by the Executive Governor and which have not been repealed must be duly and diligently followed before any financial institution, local or foreign can consider.
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“First, the State Debt Management Advisory Committee must sit to discuss the purpose and necessity of the loan for the state. Furthermore, Plateau State cannot operate as if we are under a military junta where things are done by fiat. For a serious issue such as loan acquisition of this magnitude, the State Executive council must approve such loan before forwarding it to the House of Assembly for deliberation.
“The Exco Approval must then be transmitted to the House of Assembly for their discussion and approval which cannot be passed as was done today at its very first formal sitting as Members of the 10th House of Assembly.
“Mandatorily, such approvals by the State Executive Council and the House of Assembly would then be forwarded to the Ministry of Finance and Debt Management Department to further process.
“These two agencies are to do other processes such as; Raising of Irrevocable Standing Payment Order (ISPO) seeking for the Debt Management Office and Minister of Finance approval before any serious financial commitment can be considered. There is no State Executive Council presently constituted in the state
the Debt Management Advisory Committee has been constituted, ” he said.
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