The Oyo State House of Assembly has approved Governor Seyi Makinde’s proposal to use N18.7 billion federal government bridge facility to help the state cope with the COVID-19 pandemic.
The request was contained in a letter sent by Makinde to the state legislature and read by the Speaker, Hon. Adebo Ogundoyin, on Monday’s plenary.
The bridge facility has been approved by President Muhammadu Buhari for all 36 states of the federation, and it will be accessed through the Central Bank of Nigeria (CBN).
The lawmakers in their comments on the request agreed that such a loan facility from the federal government was necessary and timely as many states recorded huge losses during the pandemic.
According to Hon Akeem Adedibu (Chief Whip), Hon Babajide Gabriel (Ibadan North 2), Hon Bamidele Adeola (Iseyin/Itesiwaju), and Hon. Ayo Fatokun (Akinyele 1), since all the states are to access the loan facility, Oyo should not be left out.
They, however, urged the state government to expand the loan on developmental projects selected across all the senatorial districts in the state.
Despite suggesting that the loan facility be used to boost vital industries, the minority leader, Hon Asimiyu Alarape, advised the state government to be mindful of the repercussions of too many loans in his remarks.
Hon. Adebo Ogundoyin, the speaker, said it was kind of the federal government to provide financial assistance to state governments, given the scope of projects planned in the various states.
Ada Peter
