Niger Assembly Denies Approval of $14.4M Loan Request

The Niger State House of Assembly clarified that it did not approve a $14.4 million loan request from Governor Mohammed Bago after public outcry. The request, which was transmitted to the Assembly, sought legislative approval for a bank guarantee valued at $14,445,007.06 from the Saudi Exim line to finance the Niger Food Security System Logistic Company.

Speaker Abdulmalik Sarkin Daji stated that the Assembly merely received the correspondence and did not deliberate or approve the request. The clarification came amid public concern regarding the state government's borrowing practices and rising public debt.

The Niger Food Security System Logistic Company operates as a separate corporate entity, although the state government is its largest shareholder. The Assembly emphasized that the request was not for a new loan but rather a guarantee for financing arrangements involving the company, which is crucial for food security logistics in the state.