The opposition All progressives Congress (APC) in Adamawa state has rejected the N100 billion bond to be sought by Governor Ahmadu Umaru Fintiri’s administration.
The party said the decision has ambushed the present and future of the state which is geared towards financing 2023 project rathan than the development of the state.
The party’s position is contained in a press statement signed by APC state publicity secretary Hon. Mohammed Abdullahi and made available to Journalists in Yola, Adamawa state capital.
The APC described the decision by the Fintiris government as illigal and unacceptable to the party, alleging that it will morgage the future of the state.
Parts of the statement reads, “Consequently,we have discovered that all the loans collected by this government including the approved 100bn is not meant for development of the state but rather a way of siphoning money for project 2023.”
APC further alleged that Aminu Iya Abbas-led Adamawa state House of Assembly for converging an emergency sitting specifically to approve the bond “when all parliamentary staff in the country including Adamawa state are on national.strike.”
According to the APC, “Apart from this 100 billion, there are other loans collected by Fintiri’s administration in 2019 and 2020 bringing the total loans collected so far by his administration within just two years to N43 billion which cannot be proparly accounted for and without any tangible projects on ground to show for it.”
The opposition party further condemned flyover bridges being constructed by Fintiri’s administration adding that it has no economic value to the state and that similar projects in other states of Borno and Kano look more qualitative, “which have since been completed consumed less than half of this amount expanded on this project by Fintiris government.”
Mohammed Abdullahi further expressed worried that the state financial misappropriation is happening at a time when the internally generated revenue “is still the lowest in the North East and when state government is laying off workers in the name of low revenue generation while payment of running cost ,pension and promotion dues and areas are gradually becoming history in the state.”