Windstorm kills two children sheltering under trees in Bauchi

All News

Niger Assembly approves N20.4bn loan for food security project

Hot Source
June 2, 2026
0

The Niger State House of Assembly has approved Governor Umaru Mohammed Bago’s request for a N20.4 billion loan facility to boost the state’s food security initiative through the development of a large-scale irrigated farming project.

The approval was granted during Tuesday’s plenary session following the presentation of a letter from the governor addressed to the Speaker of the House, Rt. Hon. Abdulmalik Sarkindaji.

The letter was read on the floor of the Assembly by the Speaker.

In the letter, Governor Bago sought legislative approval for a bank guarantee in favour of the United Bank for Africa (UBA) for a facility valued at $14,445,007.06 (approximately N20.4 billion) under the Saudi EXIM Line of Finance for the Niger Food Security Systems and Logistics Company.

The governor explained that the State Executive Council, at its 563rd sitting held on May 18, 2026, deliberated on and approved the facility before forwarding the request to the Assembly for legislative consideration.

According to him, the request is in compliance with relevant provisions of the 1999 Constitution (as amended) and other applicable state laws.

He stated that the loan, which has a tenure of 84 months with an 18-month moratorium, is intended to finance the operational expansion of the Niger State Food Security Systems and Logistics Company.

The facility will specifically support the development of a 3,000-hectare fully irrigated farm estate in Paikoro Local Government Area of the state.

Governor Bago appealed to lawmakers for the speedy consideration and approval of the request.

Following the reading of the letter, the Assembly moved into an executive session, after which members unanimously approved the loan request.

Niger Assembly approves N20.4bn loan for food security project