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Adamawa: APC Kicks Against Fintiri’s N100 Billion Bond

The All Progressives Congress (APC) in Adamawa has rejected the state government’s plan to obtain N100 billion bond.

The state House of Assembly at an emergency plenary on May 10 had approved the executive’s request to collect the N100 billion bond.

The state’s APC publicity secretary, Mohammed Abdullahi, while reacting to the approval in a statement on Thursday accused the state government of allegedly mortgaging the future of the state.

“The people of Adamawa should understand that the present and future of the state has been ambushed by this act of the executive and legislative arms in the state,” the party said.

“Apart from the N100 billion bond that had been approved, there are still numerous other loans collected by the same PDP-led administration of Governor Ahmadu Fintiri in 2019 and 2020.”

Mr Abdullahi accused he PDP led administration from May 2020 to date, had collected loans of about N43 billion, which he said could not be properly accounted for.

“As an opposition party, we are taking it as a duty to protect the common interest of the people of Adamawa.

“We are calling our National Assembly members, Central Bank, Debt Management Office and the EFCC to come to the rescue of the state by investigating the matter,” Mr Abdullahi said.

But the state’s Commissioner for Works, Adamu Atiku, countered the APC, saying that the opposition is always looking for some negative side to criticise.

Mr Atiku, who was fielding questions about the controversial bond, said the N100 billion bond that was recently approved by the state legislature was specifically for agro-business.

“The facility is to be utilised over four years. That means every year, the state government will require N25 billion for the business,” he explained.

The commissioner noted that livestock alone contributed almost 50 per cent of the state’s total Gross Domestic Product.

According to him, there are huge economic potentials in the livestock sector and the government will take maximum advantage of that.

“Lagos, for example, is annually generating N100 billion from slaughtering cattle and almost the cattle are from here (Adamawa).

“So we have decided to have a great portion from that market by investing heavily and transforming the agricultural sector in the state.

“So, the N100 billion will be used judiciously to help realise these potentials,” Mr Atiku said.

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