Ex-Ambassador Raises Concern Over Taraba State’s N350 Billion Bond Approval

Former Nigerian ambassador to Trinidad and Tobago, Alhaji Hassan Jika Ardo, has expressed deep concerns over what he describes as the financial mortgage of Taraba State’s future.

His warning follows the Taraba State House of Assembly’s recent approval of Governor Agbu Kefas’ request to issue a ₦350 billion bond, according to a report by the Daily Post.

In a phone interview on Thursday, Ardo, a leader of the All Progressives Congress (APC), criticized the state’s growing debt, alleging that Governor Kefas has borrowed over ₦400 billion in under two years, with no significant development projects to justify the expenditure.

“I have observed the situation in Taraba quietly, but things are getting out of hand. This government has not initiated and completed a single project since its inception—just renovations,” he stated.

Ardo also condemned the State Assembly’s decision to approve the loan without a clear plan for its usage or a structured repayment framework.

Despite an increase in federal allocations—rising from about ₦3 billion to ₦13 billion monthly—and a boost in internally generated revenue (IGR), Ardo lamented the lack of significant development in the state.

“The House of Assembly should have been a check on the governor’s borrowing spree, but instead, they have approved a staggering ₦350 billion bond. This is dangerous, especially given the governor’s apparent lack of direction,” he added.

Drawing comparisons with former Governor Darius Dickson Ishaku’s administration, Ardo argued that Governor Kefas’ leadership has been even more disappointing. He also questioned funding for projects like the Jalingo Abattoir and criticized the unfulfilled promise of free education.

“I am not against borrowing—it is a necessary tool in governance. But when funds are borrowed and mismanaged without clear benefits to the people, it becomes a serious problem,” he clarified.

The Taraba State House of Assembly approved the bond request during a plenary session on Monday, March 24, 2025, after a motion introduced by Speaker John Bonzena.

According to the Assembly, the bond—sourced from United Capital and Investment House—will be used for key projects outlined in the 2025 budget, including:

• Road infrastructure
• Biotechnology
• Healthcare
• Energy
• Waste management
• Tourism
• Mining

The funds will be disbursed in ₦20 billion installments over five to seven years.

However, amid rising concerns from opposition politicians and financial experts, there are increasing calls for greater scrutiny of the state’s borrowing policies to prevent future financial instability.