Oyo Assembly Approves Loan Request, Passes 2021 Budget into Law

Oyo State House of Assembly has approved the request of Governor Seyi Makinde to access 2 billion naira loan facility from the CBN for the implementation of the Anchor Borrowers Programme.

The request was contained in a letter forwarded to the Legislature by the Governor and read by the Speaker, Mr Adebo Ogundoyin. 

The loan facility, according to the Governor is being sought for the Oyo State Ministry of Agriculture and Rural Development, and it is part of the plan of the state government to develop the Agricultural sector.

While commenting on the request, the Deputy Speaker, Mr. Muhammad Fadeyi and other lawmakers agreed that the Anchor Borrowers Programme if well implemented would assist in engaging the youth across the state and will ultimately assist in reducing the high level of unemployment in the country.

The Speaker, Mr Adebo Ogundoyin, noted that the Anchor Borrowers Programme was coming at the right time, adding that many youth who are interested in Agriculture do not have the financial wherewithal to go into full practice.

The House thereafter directed its Committees on Agriculture and Natural Resources as well as Public Account, Finance and Appropriation to perform thorough oversight functions in order to ensure full implementation of the Anchor Borrowers Programme so as to achieve the desired results.

Similarly, Oyo State House of Assembly has passed the 2021 budget of N273.7 billion naira into law. 

The passage of the state appropriation bill followed presentation of report by House Committee on Public Account, Finance and Appropriation during during plenary.

It would be recalled that Governor Seyi Makinde had few weeks ago proposed a total budget of N266.6bn for 2021 fiscal year, which is now reviewed upward by the State House of Assembly to the sum of N273.7bn. 

Speaking with journalists shortly after passing of the appropriation bill, Chairman, House Committee on Public Account, Finance and Appropriation Mr Akeem Mustapha expressed optimism that the 2021 budget performance would be better than that of year 2020

Mr Mustapha explained that his committee jerked up the budget to accommodate some other government ministries and agencies to carry them along in the development drive of the state government, expressing hope that the state IGR was rapidly improving.

Earlier, Speaker of the House, Mr Adebo Ogundoyin expressed confidence that the legislative arm would monitor budget implementation to ensure the state got results in the coming year.

Mr Ogundoyin explained that the house did a thorough scrutiny of the budget and ensured that no part of the state wais left behind.

Mosope Kehinde

Mosope Kehinde

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