Makinde’s N10bn loan request approved by Oyo Assembly
The Oyo State House of Assembly has granted approval to Governor Seyi Makinde’s proposal to secure a N10 billion loan, aimed at providing counterpart funding for World Bank-assisted initiatives in the state.
During the Tuesday plenary, Speaker Adebo Ogundoyin read out Governor Makinde’s request letter, outlining the necessity for counterpart funding to facilitate the disbursement of donour funds to Oyo State.
According to the communication, the World Bank-backed projects are designed to augment the state government’s efforts in enhancing the welfare of its citizens. The loan, to be acquired from Fidelity Bank, will be repaid over a 30-month period.
The legislators emphasized the importance of Governor Makinde prioritizing projects and programs aimed at ameliorating the living conditions of the populace.
