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Governor Seyi Makinde of Oyo State has approached the State House of Assembly seeking approval for a N150 billion loan from Afrexim and Access financial institutions.
The loan is intended for the completion of the ongoing Rashidi Ladoja circular road project in Ibadan, aimed at alleviating traffic congestion in the city.
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During the first plenary of 2024, attended by 20 lawmakers, Governor seyi Makinde’s request was presented, with the governor emphasizing the loan’s purpose to expedite the completion of the circular road project and improve infrastructure in the state.
Speaker Adebo Ogundoyin read the governor’s letter during the plenary, highlighting the need for details on the loan repayment plan and other essential information for legislative considerations.
The chairman of the House Committee on Works and Appropriation was tasked with examining the loan implications, the state’s current debt profile, the pay-back mechanism of existing debts, the project timeline, and its impact on the state’s internally generated revenue (IGR).
Furthermore, the governor sought confirmation for Abdul-Raheem Abdul Rahman as the Chairman of the Oyo State Education Trust Fund (OETF) and Nureni Adeniran as the Chairman of the Oyo State Universal Basic Education Board (SUBEB).
The nominees are expected to attend hearings before relevant House Committees for a thorough assessment of their qualifications and suitability.
This move underscores the governor’s commitment to aligning key appointments with the state’s educational objectives and ensuring comprehensive evaluations for proposed positions.
