OrderPaperToday- The Kogi State House of Assembly on Thursday approved the sum of N4.017 billion loan for the establishment of 50-tonne rice mill at Omi-Dam, Yagba for the state government.
This move was sequel to the adoption of a letter from the Executive, seeking a resolution of the assembly in respect of “irrevocable standing payment order” signed by the governor of the state, Yahaya Bello.
Reading the contents of the letter on Thursday at plenary, the speaker, Matthew Kolawole, indicated that the need for the loan is as a result of the paucity of funds and government’s resolve to involve private organisations in the development of the state.
Kolawole said: “In our bid to attain food sufficiency, job creation and increase our internally generated revenue, Kogi Government has partnered with Agri Integrated Africa Services Ltd. to build a 50- ton rice mill in Omi.
“Due to paucity of fund and our resolve to involve private organisations in developing the state, we have paid 10 per cent of the total cost of overN4.46 billion.
“Agri Integrated Africa Services Ltd will source for the balance of N4, 017 billion which represents 90 per cent of the total cost to be paid back in 36 equal instalments of N111.584 million.”
The adoption of the motion received a lot of support from the members even as they reiterated the need for a process of employment that would spell out modality to cover indigenes of the state as the people of the state await the establishment of the rice mill.