Oyo Assembly Approves State Govt. Loan Request
The Oyo State House of Assembly has approved the request of Governor Seyi Makinde to access N20 billion contractor financing loan facility from the First Bank of Nigeria Plc.
The House also okayed the request of the governor to access another N2.5bn Central Bank of Nigeria credit support intervention fund for the health sector in the state.
The approval followed two separate letters, forwarded to the Assembly by the governor and read at the plenary by the Speaker, Mr Adebo Ogundoyin
According to the request, if accessed, the twenty billion naira money would be used to fund and support priority projects to boost economic activities in the state.
On the N2.5bn CBN credit support intervention fund, the governor said the money would be used to revamp the health care facilities, manage the Covid-19 pandemic and to promote other health initiatives of his administration.
The Speaker said the House approved the requests of the Governor in view of the importance the present administration attached to infrastructural development especially the construction and rehabilitation of roads and other social amenities as well as the need to upgrade health facilities to combat Coronavirus and other health challenges.
The Deputy Speaker, Hon Muhammad Fadeyi while reacting to the requests commended the Oyo State Government for managing the affairs of the state in spite of the myriads of the economic, social, security and health challenges confronting the nation, adding that the loan would help the government in achieving its set goals.
The Majority Leader, Mr Sanjo Adedoyin and the Minority Leader, Mr Asimiyu Alarape, who moved and seconded the motions respectively explained that the requests could not have come at a more appropriate time than now to enable the state government to finance some infrastructural development projects as well as address Covid-19 pandemic.