In a bid to speedily complete the construction of its cargo airport project, the Bayelsa State Government is shopping for a N40 billion loan from commercial banks in the country.
It was gathered that the state governor, Chief Seriake Dickson, had last week forwarded a letter of request to the State House of Assembly seeking approval for the government to stand as a guarantor to enable Bayelsa Airlines secure the facility.
It was learnt that the governor had in the letter explained to the legislature that the proposed project was designed for the largest cargo and commercial aircrafts.
He was said to have assured the lawmakers that the airport would be ready for use by the last quarter of next year.
“Out of the total estimated cost of the project, the state government has already expended the sum of N9.3 billion for payment of compensation for land, consultancy services, construction of run-way and clearing of land, among others,” Dickson further explained in his letter.
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