Makinde seeks Oyo Assembly’s approval to access N150bn loan

Oyo State governor, ‘Seyi Makinde has sought the approval of the state’s House of Assembly to access a loan in the total sum of 150 billion from Afrexim and Access financial institution.

The governor made this request in a letter forwarded to the Oyo State House of Assembly and was read by the speaker of the House, Mr Adebo Ogundoyin.

The governor in the letter said the request became necessary to enable the state government to complete the 104km road project and others in the state. 

The House, while deliberating on the loan request, directed its committees on Finance, Appropriation and State Economic Planning and 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.

“Having one N150 billion for Rashidi Ladoja Circular Road and other infrastructure is a good idea but we have to consider the payback mechanism. I mean the payment procedure.”

“We also want the two committees to get all necessary details about the proposed loan. We need a wholistic report on the request, the economic impacts of the road and other infrastructure when completed among other details,” Ogundoyin said.

Similarly, the governor also sought the approval of the state legislature for the approval of Abdul-Raheem Abdul Rahman as Chairman, of Oyo State Education Trust Fund (OETF) and Nureni Adeniran as Chairman, Oyo State Universal Basic Education Board.

However, the speaker directed the two nominees to appear before concerned House Committees for their screening.