Niger State Governor Umaru Bago has gotten approval of twenty billion, four hundred billion Naira (N20.4billion) for a loan request to finance Niger State’s food security systems and logistics company.

The Niger State House of Assembly, at the resumption of plenary on Tuesday, approved the loan by following a letter by the Governor to that effect and addressed to the Speaker of the House, Rt. Hon. Abdulmalik Sarkindaji.

The letter, which was read on the floor of the house by the Speaker, had the Governor requesting approval for a bank guarantee in favour of United Bank for Africa (UBA) of $14,445,007.06 (N20.4billion) by the Saudi Exim Line of finance to the Nigerian food security system and logistics company.

In the letter, the Governor claimed that the state executive council, in its sitting NO. 563 of 18th May, 2026, deliberated and approved the loan for onward transmission to the Niger State House of Assembly.

This, he said, was in compliance with the relevant provision of the 1999 constitution (as amended) and all other related status laws of the state.

He explained further that the loan is for a tenure of eighty-four (84) months with 18 months moratorium.

He pointed out that the loan is intended to support the project’s operational expansion and development of 3,000 hectares fully irrigated farm estate to be situated in the Paikoro local government area of the state.

The Governor, therefore, appealed to the House for a speedy consideration and approval of his request.

After the letter was read at the plenary, the House moved to an executive session where the loan was approved.