Makinde seeks Assembly's approval for N150 billion loan facility

OYO State Governor, Seyi Makinde, yesterday, sought the approval of the state’s House of Assembly to secure a loan facility of N150 billion from Afrexim and Access Financial Institution. The loan, according to the governor, would be used to accelerate the completion of the ongoing Rashidi Ladoja Circular Road and to improve on critical infrastructure that would aid reduction of traffic gridlock within Ibadan metropolis.

Speaker of the House, Adebo Ogundoyin, disclosed this while reading out a letter of request from the governor during the plenary, yesterday.

The House, while deliberating on the loan request, directed its committees on Finance, Appropriation and State Economic Planning, as well as that of Works, to investigate the loan request. It urged the two joint committees to come up with a comprehensive report on the loan request and the mode of payment.

The Speaker, in his submission, stressed the need for the committees to get all necessary briefs on the request and report to the House in one week.

Makinde has also sought the confirmation of AbdulRaheem Abdul Rahman as Chairman, Oyo State Education Trust Fund ( OETF) and Nureni Adeniran as Chairman, Oyo State Universal Basic Education Board.

In his remarks, Ogundoyin noted that even though it was important to support the state government in its drive to improve on current state of road projects and infrastructure in the state, the House needed to be furnished with details of loan repayment plan and other necessary information that would aid legislative considerations.