By Mosope Kehinde
The Oyo House of Assembly has granted the governor’s request to borrow N50 billion to finance ongoing and new infrastructural projects in the state.
In a letter read on the floor of the House, a commercial bank would give the N50 billion contract finance facility at an interest rate of between two and four percent, spread over 48 months.
Some of the new and current road infrastructural projects around the state that would be supported by the loan were enumerated in the letter during plenary, presided over by the Deputy Speaker, Mr Abiodun Fadeyi.
In seeking the Assembly’s approval of the loan, Majority Leader, Mr Sanjo Adedoyin said the fund would go a long way in enabling the current government to execute contracts for infrastructural development projects.
Also at the plenary, the Assembly was asked to ratify the nomination of Justice Iyabo Yerima as the state’s chief judge.
The House, however, resolved that its committee on Judiciary should screen Justice Yerima, which would subsequently bring its findings to the Assembly for discussion and eventual approval.
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