Makinde Seeks Oyo Assembly’s Approval to Access N150bn Loan to Complete Ibadan Circular Road, Other Infrastructure

 

Oyo State Governor, Engr. Seyi Makinde has sent a request to the Oyo State House of Assembly to access a loan of one hundred and fifty billion naira to finance the ongoing Sen. Rashidi Ladoja circular road in Ibadan and other infrastructure.

The Governor made the request in a letter forwarded to the State Legislature which was read on Tuesday by the Speaker, Hon Adebo Ogundoyin.

The Governor in the letter said, the request became necessary to enable the State Government to complete the 104km road project and others like it in Oyo State.

The House while deliberating on the loan request directed its committees on Finance, Appropriation and State Economic Planning as well as that of Works to investigate the loan request.

It urged the two joint committees to come up with a comprehensive report on the loan request and the mode of payment.

The Speaker in his submission stressed the need for the committees to get all necessary briefs on the request and report to the House in one week.

” Having one #150,000 billion for Ibadan Circular Road and other infrastructure is a good idea but we have to consider the payback mechanism.

“I meant the payment procedure.

“We also want the two committees to get all necessary details about the proposed loan.

“We need a holistic report on the request, the economic impacts of the road and other infrastructure when completed among other details.” Oyo Speaker said