Ogun Assembly Approves Amosun’s N65.7bn Loan Request
Ogun State House of Assembly has 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 yesterday followed a motion moved by the Majority Leader, Adeyinka Mafe and seconded by Hon. Rasaq Oduntan which was supported by the whole House through a voice vote, shortly after members had debated on the desirability of the credit facility.
The approval which was granted under “H.R. No. 090/2017.
The facility, according to the approval can be sourced locally and foreign financial institutions.
Earlier while opening debate on the House Resolution, Mafe said governor 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, 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.
On his part the Minority Leader, Olawale Alausa, while supporting the motion for approval said the Assembly would monitor closely the list of projects to be funded by the facility.
They noted that the State House of Assembly would carry out its oversight on all the projects so as to ensure value for money and promote accountability, transparency and prudency in the best interest of the State.
On his part the Minority Leader, Olawale Alausa, while supporting the motion for approval said the Assembly would monitor closely the list of projects to be funded by the facility.
