The Plateau State Government on Monday said that its plan to borrow additional N37.6bn to finance the N177bn 2020 Budget will not plunge the state into more debts.

The Debt Management Office has put the state’s debt profile at N98bn as of June 2019.

The Commissioner for Budget and Economic Planning, Mr Silvester Wallangko, stated this in Jos on Monday during the 2020 budget breakdown.

He said government was concerned about the rising debt profile of the state.

He, however, stressed the need to source for funds in order to execute projects for the people.
Wallangko said, “We are seriously concerned about the rising debt profile of the state but if you go back to 2015 when this administration began, N98bn was not the debt we inherited.
“It was well above that but we have made remarkable progress to reduce the debt profile of the state.”

The sum of N50, 000, 000.00 each have been budgeted for the “Building of In-land Container Port” and the “demolition of burnt down Jos main market” in the Plateau State 2020 budget, projects which have been listed among others as some capital performance in the 2019 budget.
Mr. Sylvester Wallangko while giving a breakdown of the 2020 budget in Jos stated that Commerce and Industries has been allocated the sum of N1, 924, 250, 000.00 representing 2.45% of the capital estimate.

Wallangko further disclosed “the major projects considered in this year include amongst others: demolition of burnt down Jos Main Market Authority, N50, 000, 000.00; establishment of cassava processing plant, N450, 000, 000.00, acquisition of BARC farms, N500, 000, 000.00; building of In-land Container Port, N50, 000, 000.00; establishment of Micro Finance Development Fund for Micro Industries N370, 750, 000.00”

Earlier, the Commissioner while reviewing the performances of the 2019 capital and recurrent expenditure mentioned that among some capital performance, “the completion of Inland Container Port by Duncan Nigeria Ltd; completion of the demolition of the burnt down Jos Main Market at Terminus.”

However, when the attention of the government officials present at the event were drawn to the issue, the State Commissioner for Finance, Mrs. Regina Soemlat said, “Yes the demolition of that market has been completed and payments have been made but you know the amount allocated for the main market is for the retention.

“It is the heart desire of government to build up the main market again so we have some paper works to do which we must pay for and that amount would take care of such that is why we made that allocation.”

Also, the State Accountant-General, Mr. Cyril Tsenyil explained that there is no bad intention in the allocation for the In-land port still needs some more structures to be erected and finishing touches on completed ones.