Oyo Assembly okays Makinde’s request to borrow N20bn for infrastructure, access N2.5bn from CBN

The Oyo State House of Assembly, on Tuesday, granted Governor Seyi Makinde’s request to borrow N20 billion to fix infrastructure in the state.

As contained in a letter read at plenary, Makinde said the request became expedient due to dwindling revenue from the Federation Account and low Internally Generated Revenue (IGR) as a result of coronavirus pandemic.

The request letter stated that the N20 billion infrastructure financing facility will be sourced from the First Bank of Nigeria.

The Assembly said it approved the loan to enable the state government address difficulty faced in fixing infrastructure in the state.

While moving motion in favour of the loan, Majority Leader, Honourable Sanjo Adedoyin and Minority Leader, Honourable Asimiyu Alarape, urged the state government to ensure that all zones of the state benefit in terms of improved infrastructure.

Alarape added that he supported the loan request because it was not to pay salaries and that there was apparent deficit in infrastructural facilities across the state.

In another letter by Makinde, the Assembly also approved of the state accessing a N2.5 billion credit support intervention from the Central Bank of Nigeria (CBN).

The N2.5 billion CBN intervention is specially for the health sector which all state governments in the country could access.

Makinde also forwarded to the house names of members of the state civil service commission for confirmation.

Nominated as Chairman of the commission is Kamorudeen Aderibigbe, while Kolajo Isiak, Toyin Akanmu, Solomon Ogunjinmi and Taiwo Oluwagbemiro are to serve as members.

The members of the commission are billed for confirmation next Thursday.

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