Kogi State Government to Allegedly Acquire $12m (N5.1b) Worth of Cars Via Loans

Reports reaching us seem to indicate that the Kogi State Government is considering the acquisition of cars worth more that 12 million dollars, which equates to 5.1 billion naira, at the prevailing parallel market rate.

In order to finance this huge expenditure, the state government is considering the use of a loan, which will be paid over three years.

Although the report is unconfirmed, photos of the proposed loan request have been circulating in the media.

We wonder how this expense can be justified in a recession...