The Niger State House of Assembly has formally approved a N70 billion bond request from Governor Umaru Bago, paving the way for major investments in infrastructure and social services across the state.
The approval was granted during a plenary session held on Tuesday in Minna, following the submission of a report by the House Committee on Finance. The committee had earlier reviewed the bond proposal and recommended its passage. Presenting the report, Committee Chairman Aliyu Wushishi explained that the N70 billion bond forms part of a larger N100 billion private bond issuance programme scheduled to span ten years.
Members of the Assembly gave unanimous support to the committee’s recommendation, signaling strong legislative backing for the governor’s financing plan. In response, Speaker of the House Abdulmalik Sarkin-Daji directed the Clerk to formally communicate the Assembly’s resolution to the executive arm of government, enabling the next phase of the bond issuance process.
The move follows an earlier communication from Governor Bago, which was read in the House on May 15 during a plenary session chaired by Deputy Speaker Afiniki Dauda. In the letter, the governor outlined his administration’s intention to secure funding for key development projects through the bond market. This request had already received the endorsement of the State Executive Council at its 55th sitting on April 22, where it approved the issuance of N70 billion as the first tranche of the proposed N100 billion bond programme set for 2025.
Governor Bago’s letter to the Assembly detailed the intended use of the funds, which include critical investments in healthcare systems, educational infrastructure, potable water supply, road construction, and transport linkages both within and outside the state. These projects are expected to address pressing developmental needs and improve the overall quality of life for residents.
The bond approval marks a significant step in the state’s strategy to attract long-term capital for transformative infrastructure. With the legislature’s support secured, the government is now positioned to move forward with mobilizing resources to implement its development agenda.