Kogi State Govt. set to borrow $100million for economic development
The Kogi State Commissioner for Finance, Budget and Economic Planning, Asiru Idris disclosed this on Wednesday while briefing newsmen shortly after the State Executive Council meeting held at the government house in Lokoja.
“The 100 million dollar when accessed will be used to build roads, construct electricity and other social amenities within the Alape Crop Processing Zone. ‘‘The fiscal sustainability of the state gives room for borrowing. If the state debt has not gone beyond 250 per cent of his income then, it can still borrow. Kogi is presently on 147 percent.
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