The Plateau State Executive Council has approved the sourcing of a 3 billion naira bond from the capital market to finance some capital projects.

This was one of the decisions taken during its maiden meeting for 2021 presided over by Governor Simon Bako Lalong at the Exco chambers of the new Government House Little Rayfield Jos.

Commissioner for Information and Communication Mr. Dan Manjang, Commissioner for Finance Dr. Mrs. Regina Soemlat, and the Commissioner for Commerce and Industry Mr. Abe Aku gave highlights of the decisions taken at Council at a news briefing.

Commissioner for Information and communication Mr. Dan Manjang said Exco approved the bond as part of its drive to ensure that some of its ongoing projects are completed while other critical ones are introduced.

He said the shortfall in internally generated revenue and federal account allocation accruing to the State due to COVID-19 has necessitated the sourcing of alternative funds to execute critical projects.

Finance Commissioner Dr. Mrs. Regina Soemlat said the 3billion bond is part of the 30 billion naira earlier sourced for the Lalong Legacy projects which after rescoping stood at about 27 billion naira.

According to her, all funds needed to complete the legacy projects are available and work is going on in all the sites steadily.

Commissioner for Commerce and Industry Mr. Abe Aku said the Council approved the establishment of the Plateau State Cooperative Society Agency to register, regulate and monitor the operations of all cooperatives in the State and also strengthen their contributions to economic development of the State.

He said a bill will be forwarded to the State House of Assembly which when passed will encourage people of the State to form cooperatives to enable them access funds from various Federal Government interventions as well as international development and donor agencies.

On the Corona virus pandemic, the Commissioner for Information Dan Manjang said Council raised concerns over the increase in number of deaths which as at today stands at 53 and directed more testing and enforcement of protocols throughout the state.

The Council also frowned at the destruction of street lights in the capital city by motorists and directed that those who are involved should be arrested and made to pay for replacement.

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Plateau Executive Council Approves Sourcing of N3 Billion Bonds for Projects, Set to Establish Cooperative Society Agency