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After over N100bn loans in two years, Oyo Assembly approves fresh N18bn for Makinde

Members of the Oyo State House of Assembly have approved the request of Governor Seyi Makinde of the state to access the N18.7 billion Feder...


Members of the Oyo State House of Assembly have approved the request of Governor Seyi Makinde of the state to access the N18.7 billion Federal Government Bridge Facility loan.

The state lawmakers gave the approval during an emergency sitting held on Monday in Ibadan, the state capital.

Our correspondent learnt that the loan was meant to cushion the effect of the Coronavirus pandemic.

Recall that this is not the first time the lawmakers will approve the governor’s request to access loan facilities.

Our correspondent learnt that the state House of Assembly, which was inaugurated in June 2019, has approved about N100 billion in loan for the governor.

It was gathered that one of such loans was the one recently approved in August this year.

Recall that the lawmakers had in August this year approved a loan of N6 billion for the governor.

Also, the House of Assembly had in October 2019 approved N7 billion Central Bank of Nigeria (CBN) loan for the governor.

It was gathered that the N7 billion loan was approved by the lawmakers four months after the 9th Assembly was inaugurated.

The state lawmakers had however on Monday approved another N18 billion loan facility for the governor.

It was reported that the request to approve the fresh loan was contained in a letter forwarded to the state lawmakers by Makinde.

Speaker of the Assembly, Adebo Ogundoyin read the letter before his colleagues on Monday.

Ogundoyin assured that the House, through its Committee on Public Account and Appropriation, will perform its oversight function by monitoring the accessing and the spending of the loan.

The lawmakers after their deliberations then approved the fresh loan for the governor.

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