The Edo State Government has clarified that the recently approved ₦100 billion facility is not a direct loan but a contractor-based funding arrangement designed to fast-track key infrastructure projects across the state.

In a statement released on Wednesday in Benin City, Fred Itua, Chief Press Secretary to Governor Monday Okpebholo, said the facility involves First Bank Plc directly funding selected contractors, with the state only serving as a guarantor.

“This clarification is crucial to correct any misconception arising from reports suggesting that the governor had directly obtained an approval to borrow the aforementioned sum,” the statement read.

According to the government, the 40-month facility will be accessed by contractors on a project-by-project basis. The state guarantees repayment but does not take on the loan directly, which it described as a fiscally responsible model.

“The Edo State Government is fully committed to fulfilling its guarantee obligations by ensuring timely payments to the bank as agreed,” Itua added.

The funds will support critical infrastructure including:

·         A flyover bridge at Adesuwa Road

·         Evbhukhu-Sapele Road and drainage (Oredo LGA)

·         Eguaolor-Iguomo-Uvbenisi-Oza Road with spur to Ohe (Uhunwonde LGA)

·         Okpagha-Amufi Road and spurs to adjoining streets (Uhunwonde/Ikpoba Okha LGAs)

·         Internal roads in Ogbeghe and Old Sapele Road, Benin City

·         Uhie Road off Sapele Road

·         Ugieda village roads in South Ibie (Etsako West LGA)

·         A single carriageway of the Ekpoma-Uromi-Ubiaja Road (Esan axis)

The government says the initiative underscores Governor Okpebholo’s commitment to delivering strategic, high-impact projects while upholding financial discipline.