Ogun Assemby approves Amosun’s request to access N65.7bn facility

Ibikunle Amosun, Governor of Ogun State.

Ibikunle Amosun, Governor of Ogun State.

The Ogun State House of Assembly yesterday approved Governor Ibikunle Amosun’s request to obtain N65.7bn credit facility in line with the 2017 approved State budget to finance capital projects in the State.

The approval of the Governor’s request was sequel to a motion for approval of the request moved by the House Majority Leader, Hon. Adeyinka Mafe, seconded by Hon. Rasaq Oduntan and supported by the whole House through a voice vote, shortly after members had debated on the desirability of the credit facility.

The governor had in a letter dated Monday, January 23 requested for the approval of the House to access financial facility to the tune of N65.7bn from domestic and foreign multilateral and other financial institutions to finance development projects as approved in 2017 budget estimate.

 
Earlier while opening debate on the House Resolution, Mafe said Amosun’s request was in line with the approved capital receipt contained in the 2017 budget, pointing out that the single digit interest rate would give a great relief for government in the midst of the current economic recession.

Some of the lawmakers who contributed to the debate leading to the approval of the credit facility included the Deputy Speaker, Hon. Olakunle Oluomo, and Hon. Olusola Bankole, said the lenders of the credit facility would not offer direct cash to government but having dedicated projects meant to be funded by the facility, while the creditors would also determine the consultants that would handle the projects’ execution.



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