Senator Emmanuel Bwacha, the Taraba state governorship candidate of the Peoples Democratic Party (PDP), has called on Governor Agbu Kefas to account for an alleged $268 million loan secured from the ECOWAS Bank for Investment and Development (EBID). Bwacha made the demand while flagging off his campaign in Zing local government council of the state. He alleged that the loan, reportedly secured in June 2026, had not been adequately accounted for.
According to Bwacha, the loan was part of three financing agreements signed between Taraba state and EBID in June 2026, valued at approximately $268 million. The agreements were for the development of an integrated industrial park, 10,000 hectares of irrigated rice production and modern processing facilities, as well as a 50-megawatt solar photovoltaic plant in Jalingo. Bwacha raised questions about the amount drawn from the facility, expenditure incurred, jobs created, and the assets expected to remain after the projects are completed.
Bwacha emphasized that public borrowing must be accompanied by transparency, accountability, value for money, and measurable benefits to the people. He noted that citizens had the right to demand explanations whenever public resources were committed through borrowing. Bwacha stressed that such funds should translate into lasting development and tangible improvements in people’s lives.
The PDP candidate expressed concern over various aspects of governance in Taraba state, including infrastructure, public expenditure, borrowing, social services, and the relationship between government and communities. He stated that governance should be measured by its impact on ordinary citizens, including farmers, civil servants, pensioners, young graduates, mothers seeking healthcare, and children depending on public education.
Bwacha maintained that government is not simply the possession of power, but the responsibility that comes with power. He said Taraba needed a system of governance that connected public institutions with communities, created economic opportunities, and ensured that state resources were converted into tangible benefits for residents.
Bwacha specifically asked what had been drawn from the loan facility, what expenditure had been incurred, what value had been created, what jobs had been generated, and what assets would remain for future generations. He also inquired about the repayment obligations that would ultimately fall upon the people of Taraba.
The challenge by Bwacha comes as he campaigns for the governorship position in Taraba state. His demands for transparency and accountability in the use of the $268 million EBID loan reflect his commitment to good governance and the prudent management of public resources. Key issues in the loan include its utilization, impact on the state's development, and the benefits accrued to the residents.
Key points
- The loan was secured from the ECOWAS Bank for Investment and Development (EBID) in June 2026.
- The loan was for the development of an integrated industrial park, 10,000 hectares of irrigated rice production, and a 50-megawatt solar photovoltaic plant.
- Bwacha demands transparency and accountability in the use of the $268 million EBID loan.
