FIC Report (Benue State) – The Benue State Government has formally requested the assent of the Benue State House of Assembly, Makurdi, to access a ₦100,000,000,000.00 (One Hundred Billion Naira) term loan from the United Bank for Africa (UBA) Plc for the financing of critical infrastructural development projects across the state.
In a letter addressed to the Honourable Speaker of the House, Rt. Hon. Alfred Berger Emberga, on Friday, 10th October, 2025, the State Executive Council (EXCO), through the Secretary to the State Government, Dcns. Serumun Deborah Aber, Esq., sought legislative approval to:
- Access the ₦100 billion term loan from UBA; and
- Discount funds received from the Federal Government in respect of the Nigerian Liquefied Natural Gas (NLNG) proceeds.
The facility, negotiated under favourable terms, carries a 48-month tenor with monthly repayment. The repayment source is expected to be derived from discounted Federal Government promissory notes, as well as FAAC and IGR inflows.
According to the correspondence, the loan facility is aimed at financing key infrastructural projects across the state, including:
Renovation and equipping of 23 General Hospitals;
Renovation and construction of Special Science Secondary Schools;
Completion of ongoing roads, bridges, drainages, and electricity projects in Makurdi, Gboko, and Otukpo;
Construction and equipping of Skills Acquisition Centres;
Building and equipping of Smart Schools in each Federal Constituency;
Renovation and equipping of Secondary and Tertiary Institutions;
Provision of infrastructure in designated industrial parks and agricultural processing zones;
Construction and equipping of facilities at the Benue State University of Agriculture, Science and Technology, Ihugh;
Renovation and additional buildings at the Government House; and
Urgent works on Makurdi arterial roads, among others approved by the Executive Council.
The State Government emphasized that the decision to seek the facility aligns with Governor Hyacinth Iormem Alia’s commitment to accelerating infrastructural renewal, fostering socio-economic development, and improving the living standards of the people of Benue State.
The request underscores the administration’s determination to transform Benue through strategic investments in health, education, industrialization, and road infrastructure — all aimed at enhancing productivity and reducing poverty across the state.
The motion for approval of the loan was moved by Hon. Matthew Damkor, representing Tiev (Vandeikya I) State Constituency, and seconded by Rt. Hon. Abu Umoru, representing Apa State Constituency.
Signed:
VERONICA NGUEVESE AZEMBA
For: Head of Centre, FIC Makurdi
