How N10b bailout fund was expended, by Yobe gov
Yobe State Governor Ibrahim Gaidam yesterday clarified how the N10 billion bailout fund received from the Federal Government was expended.
He said N4.4 billion from the amount was spent on capital projects in the health, roads and agriculture sectors of the economy.
Director of Press Affairs to the Governor, Abdullahi Bego, disclosed this yesterday in a statement issued to newsmen in Damaturu, the state capital.
His words: “In compliance with the terms of agreement, the Gaidam administration has begun applying the funds on capital projects. The objective is to accelerate the execution of new and ongoing social development projects as part of the administration’s drive to move the state forward.”
The statement also said: “Consequently, N4.4 billion has so far been spent by the state government out of the N10 billion in the following areas: Payment of CV 8 & 9 for construction of Kanamma-Kafiya road by CGC amounted to N725,804,568.32; payment of CV No. 3 for the construction of Nguru-Machina road by RRC Limited was N439.31 million.
“Payment of CV No. 3 for construction of Yunusari-Yusufari road by EEC International amounted to the sum of N370,075,100.03. The payment of CV No. 5 for the construction of Gadaka-Godowoli road by Rick Rock Construction Limited gulped N467.76 million.
“Payment of CV No. 3 for construction of Kafiya-Yunusari road by CGC N145, 038, 887.15. CV No. 4 for the construction of Yunusari-Yusufari road project N1,042,141,987.70. SDGs counterpart fund for the rehabilitation of Potiskum, Gashua and Gaidam general hospitals also gulped N600 million.
“Part payment for the supply and installation of additional equipment at the 200-bed capacity hospital, Damaturu costs N150 million. Amount allocated to the task force on irrigation farming for the clearing of sites for take-off of special irrigation projects is N88.97 million.”