Makinde Sends Bill to State House Seeking Approval for N150b Loan for Road Projects

Governor Seyi Makinde has sent a bill to the state House of Assembly, seeking approval to obtain a N150 billion loan for the ongoing road projects across the state.

The major project on the bill is the circular road project in Ibadan.

Makinde’s request for the consideration of the bill was read by the speaker during Tuesday’s plenary of the house.

The bill has been forwarded to the House Finance, appropriation, works, and Economic Planning committees to investigate the loan request.

The committees are to investigate the mode of payment of the loan and the impact of the projects on the economy of the state and report back in a week.

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The Chairman of the 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) how long the project will take and the benefits of the road construction to the people of the state, the speaker directed.

Mr 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 of, the Oyo State Education Trust Fund (OETF).

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

The speaker directed the two nominees to appear before concerned House committees for their screening.