Home National News Oyo Assembly grants Makinde’s request to borrow N50b loan

Oyo Assembly grants Makinde’s request to borrow N50b loan


The Oyo State House of Assembly has granted the request of Governor Seyi Makinde to access N50billion revolving overdraft for the development of recurrent and capital expenditures in the state.

The approval was sequel to a request letter sent to the state assemly by the governor and read at the plenary on Tuesday by the Speaker, Adebo Ogundoyin.

Governor Makinde in the letter said: “The request is part of the efforts of the present administration towards financing its recurrent expenditure which includes salary and conventions, capital expenditure and support/finance various contractual obligations.”

“The facility is for a period of 45 months at a concessionary rate of 25.1% per annum. This is subject to review in line with the prevailing money market conditions.”

While deliberating on the request, the lawmakers acknowledged the various projects being embarked upon by the State Government across the State.

They said such a facility was inevitable to enable the State Government to meet up with its financial obligations especially in terms of its recurrent and capital expenditures.

Meanwhile, the assembly acknowledged and announced names of two more commissioner- designates forwarded to it by the governor.

The names are Lanlate-born Miss Wasilat Adegoke Adefemi and Dr. Oluwaserimi Adewumi Ajetunmobi.

According to the governor’s letter read during the plenary by the speaker, the two personalities have been considered worthy of appointment as Commissioners by the state government.

“I therefore request for the screening and approval of the honourable house for the screening of Miss Adegoke Wasilat Adefemi and Dr. Oluwaserimi Adewumi Ajetunmobi to serve as Commissioners.”

Ogundoyin said there are still some ministries that are yet to have commissioners, adding that the new commissioner-nominees will be screened soon by the assembly.


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