From Rose Ejembi, Makurdi
Benue State Governor, Samuel Ortom has promised that his administration would make judicious use of the 18.5 billion naira loan accruing to the state from the bailout loan approved for states by the Federal Government through the Central Bank of Nigeria, CBN.
It would be recalled that the Federal Government recently approved a loan facility of N18.5 billion to be disbursed to states with a moratorium of two years and repayment period of 30 years.
Governor Ortom who disclosed this during an interactive session with newsmen on Friday on his return from Abuja, acknowledged economic challenges currently being faced by states of the federation including the Federal Government which has led to borrowing of trillions of naira.
While expressing the hope that the money will add value to the development of the state, the Governor assured that the State Executive Council would meet to take appropriate decisions on how the loan will be applied.
Ortom who averred that Benue is running a deficit budget, informed that his administration is also paying loans taken by previous civilian and military administrations in the state.
Governor Ortom who also touched on the garnishee orders against the state government however noted that efforts are on to resolve all issues concerning the garnishee orders from the Federal High Court Abuja and the FCT Court.