The N40billion loan to be sourced from commercial banks in
The governor had, last week, forwarded a letter of request to the
Although details of the loan are yet to be made public, PREMIUM TIMES learnt that the N40 billion loan facility would attract a total interest of N32 billion to be serviced within eight years, bringing total repayment to N72 billion.
He said the Federal Government's contribution to the airport project is the construction of the terminal building; while the federal government's earlier contract awarded through the
"Out of the total estimated cost of the project, the state government has already expended the sum of N9.3billion for payment of compensation for land, consultancy services, construction of run-way and clearing of land, among others",
Following the governor's request, the state
Those invited were the Commissioner for Finance, Duate Iyabi, Attorney-General and Commissioner for Justice, Kemasuode Wodu, the state Accountant General, Tarimo Aseimo, and the Managing Director of
The four officials, in their submissions during questioning by the lawmakers at a session presided over by the Speaker, Konbowei Benson, assured of the socio-economic benefits of the airport to the state and allayed the fear that the loan may be diverted into private pockets.
The all PDP 24-member assembly is expected to approve the loan.
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