Oyo Assembly Approves Executive’s Request to Take #100 Billion Prosperity Bond
The Oyo State House of Assembly has approved the request of the executive arm to take a #100 billion prosperity bond.
The lawmakers approved the bond during its plenary after considering the report of the House Committee on Public Accounts, Finance, and Appropriation.
The Executive recently requested to obtain a #100 billion bond to finance certain medium/long term infrastructural projects.
Pursuant to the unanimous agreement of the House, the Speaker, Oyo State House of Assembly, Mr Adebo Ogundoyin, granted the prosperity bond.
Mr Ogundoyin noted that a special committee will be constituted to ensure judicious spending of the bond.
He added that the #100 billion bond in which its repayment spread over years will be spent on Capital projects which in return bring in investors and boost the economy of the state.