Church groups disagree over funding for Jos main market project
A religious twist was introduced in the project to rebuild the main market of Jos which was ravaged by fire in 2002.
Leaders of the parent bodies of two faith groups met Governor Simeon Lalong on Saturday in Jos and expressed dissenting views on the government's plan.
A group objected to the financing plan with a bank identified with the rival group.
The other group, however, argued that what was paramount was that the state assist in development, regardless of the source of funds.
After the groups aired their positions, Governor Lalong expressed concern that politicians were using the proposed market for propaganda purposes, saying the market had been sold to the bank in question.
He explained that the funding arrangement was purely a business decision based on the public-private partnership model.
The bank would finance the project for the contractor and at the end of the construction, 60% of the stores would be administered by the bank and the contractor for 40 years.
The remaining 40% would be administered by the state government for the same duration.
The Governor further explained that the 40-year period was intended for a sublease allowing buyers to recover their funds, adding that at the end of the period, the stores would revert to the Main Market Authority by Jos.
READ ALSO: Six Weeks After Jos Explosions, Street Traders Return To Terminus Market
Mr. Lalong asked the presidents of the local governments of Jos to organize sensitization meetings in their areas to ensure understanding of the conditions of financing and sharing of the project.
He urged Plateau residents not to resist development and scare off potential investors from setting up businesses in the state.
The Plateau Executive Council had previously approved the reconstruction of the market at a cost of N9 billion.
(NAN)
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A religious twist was introduced in the project to rebuild the main market of Jos which was ravaged by fire in 2002.
Leaders of the parent bodies of two faith groups met Governor Simeon Lalong on Saturday in Jos and expressed dissenting views on the government's plan.
A group objected to the financing plan with a bank identified with the rival group.
The other group, however, argued that what was paramount was that the state assist in development, regardless of the source of funds.
After the groups aired their positions, Governor Lalong expressed concern that politicians were using the proposed market for propaganda purposes, saying the market had been sold to the bank in question.
He explained that the funding arrangement was purely a business decision based on the public-private partnership model.
The bank would finance the project for the contractor and at the end of the construction, 60% of the stores would be administered by the bank and the contractor for 40 years.
The remaining 40% would be administered by the state government for the same duration.
The Governor further explained that the 40-year period was intended for a sublease allowing buyers to recover their funds, adding that at the end of the period, the stores would revert to the Main Market Authority by Jos.
READ ALSO: Six Weeks After Jos Explosions, Street Traders Return To Terminus Market
Mr. Lalong asked the presidents of the local governments of Jos to organize sensitization meetings in their areas to ensure understanding of the conditions of financing and sharing of the project.
He urged Plateau residents not to resist development and scare off potential investors from setting up businesses in the state.
The Plateau Executive Council had previously approved the reconstruction of the market at a cost of N9 billion.
(NAN)
Support the integrity and credibility journalism of PREMIUM TIMES Good journalism costs a lot of money. Yet only good journalism can guarantee the possibility of a good society, an accountable democracy and a transparent government. For free and continued access to the best investigative journalism in the country, we ask that you consider providing modest support to this noble endeavour. By contributing to PREMIUM TIMES, you help sustain relevant journalism and keep it free and accessible to everyone.Donate
[embedded content]TEXT ANNOUNCEMENT: Call Willie - +2348098788999
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