Makinde seeks Oyo Assembly’s approval for N150bn loan

Oyo State Governor, Seyi Makinde
Oyo State Governor, Seyi Makinde


Oyo State Governor, Seyi Makinde on Tuesday sought the approval of the State House of Assembly to assess a loan of N150 billion from the Afrexim and Access financial institutions.

The News Agency of Nigeria (NAN) reports that 20 lawmakers out of the expected 32 were in attendance to consider the request at the Assembly’s first plenary in 2024.

NAN reports that the governor said the loan facility was to accelerate completion of the ongoing Rashidi Ladoja circular road and to reduce traffic gridlock within Ibadan metropolis.

The Speaker, Adebo Ogundoyin, read the message from Makinde during plenary.

He noted that it was important to support the state government in its drive to improve on the current state of roads and infrastructure generally in the state.

“The House needs to be furnished with details of the loan repayment plan and other necessary information that will aid legislative considerations.

“The Chairman of House Committee on Works and that of Appropriation should deliberate on the implications of the loan, find out the current state of the state’s debt profile and the pay-back mechanism of debts already acquired.

“How long will the project take, brief on the road, and how many sections of the road will the loan take care of?

“Find out if the road project will add to the state’s internally-generated revenue (IGR) and how long the project will take and the benefits of the road construction to the people of the state,” the speaker directed.

Ogundoyin said those questions would help the House in its deliberations over the loan.

NAN reports that the governor also sought the state legislature’s confirmation of Abdul-Raheem Abdul Rahman as Chairman, Oyo State Education Trust Fund (OETF).

He also asked for the confirmation of Nureni Adeniran as Chairman, Oyo State Universal Basic Education Board.

The Speaker directed the two nominees to appear before concerned House Committees for their screening.(NAN)


The OPINION / COLUMN is authored by independent contributors to the National Accord Newspaper. While contributors adhere to our editorial guidelines, they are not employed by the National Accord Newspaper. The perspectives and opinions expressed herein are solely those of the author and do not represent the views of the National Accord Newspaper or its staff.

Be the first to comment

Leave a Reply

Your email address will not be published.