Bayelsa State government is seeking a short-term loan of N30 billion, which will be accessed in tranches to prosecute key projects in the critical sectors of education, housing and road infrastructure.
Maxwell Ebibai, state commissioner for finance, made the disclosure while briefing newsmen on the outcome of the 75th meeting of the State Executive Council in Yenagoa, the state capital.
The media briefing was led by the state commissioner for information and orientation, Jonathan Obuebite, and included his works and infrastructure counterparts, Lawrence Ewhrudjakpo, and commissioner for education, Markson Fefegha.
Bayelsa State is still repaying the N50 billion bond obtained by the government of former governor, Timipre Sylva, while late last year, the government of Governor Henry Seriake Dickson obtained a N3 billion loan to procure vehicles for lawmakers and the state security outfit, Operation Doo Akpo.
But Ebibai stated that the executive council approved the loan, as there were a number of vital projects that require funding, which cannot be met by the current revenue profile of the state.
He explained that the government assessed a total short-term funding of N30 billion for all the projects, but the emphasis would be on securing an initial short-term facility of N5 billion.
The commissioner for works and infrastructure, Lawrence Ewhrudjakpo, said the government had already earmarked N10 billion for the provision of infrastructure in tertiary institutions out of which N5 billion would go for projects at the Niger Delta University (NDU).
Ewhrudjakpo disclosed that the projects include the two-storey Senate Building, three kilometre road and faculty building for Niger Delta Studies at NDU, Amassoma, while the balance would go to the other tertiary institutions including the Isaac Jasper Boro College of Education, Sagbama, School of Health Technology, Otuogidi, School of Nursing, Tombia and Bayelsa State College of Arts and Science (BYCAS), Elebele.
He disclosed further that to meet shortfall in housing, the state government is building over 500 units of houses at Ayama while another 400 units of four-bedroom duplexes are to be built in Yenagoa.
According to Ewhrudjakpo, due to the Federal Government directive to oil majors to relocate to the Niger Delta, the state government has decided to build befitting accommodation in preparation for the eventual relocation.
The state government has also started the sale of forms for the purchase of plots of land at the new Government Reservation Area in the Tourist Island and a bridge to link Yenagoa to the island will built to ease access of prospective buyers to their land.
Ewhrudjakpo stated that work on the Yenagoa-Oporoma and Sagbama-Ekeremor roads as well as Isaac Boro Expressway are to resume and the contractors have been contacted to mobilise to site.
He further stated that all the projects are to be funded from the N30 billion loan facility.
The commissioner for education, Markson Fefegha, stated that the state government had also approved N2.3 billion for completion of projects in some model schools across the state for the take-off of boarding education later this year.
Fefegha, who urged the public to show understanding on the Education Trust Fund said efforts are being concentrated on 13 schools; three of them including St. Jude’s Girls Grammar School, Yenagoa and the Bayelsa State Sports Academy, Osuama will resume this April and the rest in September.
