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Lawmaker Cautions Government On Volatility Of Loans

By Nick Dugba.

Hon. Edward Gideon Baraya
Hon. Edward Gideon Baraya

The Chairman, Taraba state House of Assembly Committee on Finance and Appropriation, Edward Gideon Baraya has sounded a warning to the authorities to make sure they do not fall into the traps of any loan obtained but ensure that each loan obtained was managed well and spent effectively for the purpose it was meant.

Baraya gave this caution during the Public Hearing organised by the Committee on Finance and Appropriation on the Debt Management Office Bill 2016, held in the House Chambers Wednesday.

Various stakeholders attended the Hearing which includes: the Accountant General of the State, Board of Internal Revenue, the Ministry of Finance, among others, where they presented their various positions on the issue of debt management as it concerns the State and the Local Governments.

The purpose of the Bill is to establish an office backed by law that would regulate borrowing by the State and Local Governments as well as efficiently manage loans that were obtained for the betterment of the State.

After much deliberations, Edward Gideon Baraya, who also represents Karim 2 State Constituency in the Assembly, stated that borrowing could be ‘sweeter’ but that the borrower always closes his eyes to the conditions which the lender uses as traps and that it is after one has spent the borrowed money that reality dawns on him.

He added that no loan, no matter how beautiful it may look, that can’t go ‘ bad’. He said all that mattered was the efficient management of the credit saying failure to do that could call to question the worthiness of the borrower to obtain the loan.

Meanwhile, in continuation of the series of Public Hearings by the Taraba state House of Assembly, three Bills were deliberated on. They are the Taraba state Control of Chainsaw (Amendment No. 1) Bill 2016, the Taraba state Waste Management Agency Establishment Bill 2016 and the Taraba state Environmental Protection Agency Edit (Amendment No.1) Bill 2016.

The House Committee on Environment, Urban Development and Forestry Potentials oversaw the Hearing.

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