HomeAnalysisMakinde gets Assembly’s nod to borrow N22.5b

Makinde gets Assembly’s nod to borrow N22.5b

Oyo State House of Assembly has granted the request of Governor Seyi Makinde to borrow N20billion to fix infrastructure.

The loan termed contractor financing loan facility is to be sourced from the First Bank of Nigeria PLC.

The House also okayed the request of the governor to access another N2.5billion Central Bank of Nigeria (CBN) credit support intervention fund for the health sector.

Makinde sought the approval of the lawmakers in two letters of request forwarded to the Assembly and read during plenary yesterday by Speaker Adebo Ogundoyin.

The governor noted that the N20billion loan became imperative in view of the dwindling revenue accruable to the state from the Federation Account and the drop in Internally Generated Revenue due to Covid-19 pandemic.

According to the request, if accessed, the money will be used to fund and support priority projects to boost economic activities.

On the N2.5billion CBN credit support intervention fund, Governor Makinde said the money would be used to revamp the health care facilities, manage the Covid-19 pandemic and promote other health initiatives of his administration.

The Speaker said the House approved the requests of the governor in view of the importance the present administration attached to infrastructural development, especially the construction and rehabilitation of roads and other social amenities, as well as the need to upgrade health facilities to combat Coronavirus and other health challenges.

The Deputy Speaker, Mr. Muhammad Fadeyi, reacting to the requests, hailed the government for managing the affairs of the state despite the myriads of economic, social, security and health challenges confronting the nation.

He said the loan would help the government in achieving its goals.

Majority Leader Mr. Sanjo Adedoyin and Minority Leader Mr. Asimiyu Alarape, who moved and seconded the motions, said that the requests could not have come at a more appropriate time than now, to enable the government finance some infrastructural development projects as well as address Covid-19 pandemic.

Moving the motion in favour of the loan, the legislators urged the government to ensure that all zones of the state benefit in terms of improved infrastructure.

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

At the plenary, Makinde sent another letter asking the Assembly to confirm Mrs. Aderonke Aderemi as President, Customary Court of Appeal.

She is to appear at plenary for screening and confirmation on May 28.

Also presented during the plenary was another letter seeking the confirmation of members of the Civil Service Commission.

Nominated as Chairman of the commission is Kamorudeen Aderibigbe. Kolajo Isiak, Toyin Akanmu, Solomon Ogunjinmi and Taiwo Oluwagbemiro are to serve as members. The nominees are also billed for confirmation next Thursday.

Following a report by Chairman, House Committee on Education, Science and Technology, Mr. Oluwafowokanmi Oluwafemi, the bill for the renaming of Ibarapa Polytechnic, Eruwa as Adeseun Ogundoyin Polytechnic, Eruwa was passed into law.

Disturbed by the menace of indiscriminate parking of trailers on the highways, the Assembly asked the Bureau of Investment Promotion and Private Partnership and Ministry of Local Government and Chieftaincy Matters to ensure the construction of trailer parks in strategic areas of the state.

The motion, moved by Mr. Seyi Adisa representing Afijio Constituency, asked the executive arm to engage investors in public/private partnership basis to build the trailer parks.

Adisa had bemoaned gridlock, abandoned vehicles on the road and accidents on the intra-state highways occasioned by indiscriminate parking of vehicles.

Besides having a place where vehicles can park, he noted that the state would also improve its Internally Generated Revenue (IGR) by erecting such trailer clusters.

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