Nasarawa now executes N90bn projects without bank loans — Sule

Nasarawa State Governor, Abdullahi Sule, says the state has been able to execute infrastructure projects worth about N90 billion without taking bank loans, following an increase in its monthly federal allocation.

Sule attributed the improved financial capacity to the economic reforms of President Bola Ahmed Tinubu, particularly the removal of the fuel subsidy.

He spoke on Friday while receiving journalists participating in the Presidential Media Tour of Projects in Nasarawa State.

The governor said Nasarawa’s monthly allocation had increased from between N3.8 billion and N4.5 billion before the subsidy removal to an average of N14 billion to N16 billion.

According to him, the increased revenue has enabled the state to undertake major infrastructure projects without relying on commercial bank loans.

“All the projects we are doing in Nasarawa State today, without borrowing from the bank, is as a result of President Bola Tinubu and his support. So you must give him the credit for that,” Sule said.

He urged journalists to examine the policies and increased revenues behind the projects they would inspect during the media tour, rather than focusing only on the physical structures.

“It’s not just to take pictures of flyovers and pictures of this. No. It’s to understand what is driving these policies, what are these governors doing with the resources that they are getting, and how is it impacting the lives of the people,” he said.

Sule said the state had previously struggled to raise N5 billion through borrowing for a single market project but could now undertake projects valued at about N90 billion without bank financing.