A heated controversy has erupted in Taraba State, Nigeria, between Governor Agbu Kefas of the All Progressives Congress (APC) and Senator Emmanuel Bwacha, the Peoples Democratic Party (PDP) governorship candidate, over a $268 million financing facility secured from the ECOWAS Bank for Investment and Development (EBID). Bwacha has demanded explanations over the facility, while the governor's campaign council insists the funds have not been disbursed.
The controversy centres on three financing agreements signed between the Taraba State Government and EBID in June 2026 for major industrial, agricultural, and renewable energy projects. The projects include an integrated industrial park, 10,000 hectares of irrigated rice production with modern processing facilities, and a 50-megawatt solar photovoltaic power plant in Jalingo. Bwacha has questioned the status of the facility, demanding details of its disbursement, expenditure, and economic benefits.
Bwacha raised the issue while formally flagging off his governorship campaign in Zing Local Government Area, alleging that the $268 million facility had not been adequately accounted for. He challenged the Kefas administration to explain the whereabouts of the money and provide details of its utilisation. Bwacha argued that public borrowing must be accompanied by transparency, accountability, value for money, and measurable benefits to citizens.
The former Deputy Minority Leader of the Senate insisted that the existence of financing agreements was not enough to establish that the proposed projects would deliver the anticipated economic benefits. He called on the government to provide information on the amount accessed, expenditure incurred, jobs created, and assets expected to remain after the projects are completed.
The Kefas Campaign Council has dismissed Bwacha's allegations as misleading, arguing that signing a financing agreement does not mean the money has been released. The council claimed that the funds have not been disbursed, contradicting Bwacha's claims of missing funds. This has brought public borrowing and financial accountability into the emerging 2027 governorship contest.
Bwacha extended his criticism to broader concerns about infrastructure, public expenditure, borrowing, social services, and the relationship between government institutions and communities. He maintained that the performance of any administration should be assessed by its impact on the lives of citizens. The PDP candidate's demands have sparked a fresh debate on financial accountability in Taraba State.
The $268 million financing facility has become a focal point in the 2027 governorship contest, with both sides trading accusations and counter-accusations. The Taraba State Government and EBID signed the financing agreements in June 2026, reportedly valued at approximately $268 million, to support projects expected to contribute to industrialisation, agricultural production, and electricity generation.
Key points
- The controversy centres on a $268 million financing facility secured from the ECOWAS Bank for Investment and Development (EBID) for major industrial, agricultural, and renewable energy projects in Taraba State.
- Bwacha has demanded explanations over the facility, while the governor's campaign council insists the funds have not been disbursed.
- The controversy has brought public borrowing and financial accountability into the emerging 2027 governorship contest in Taraba State.
