Governor Makinde’s Bold Step: Proposes N150 Billion Loan, Awaits Oyo Assembly’s Decision

According to reports, Governor Makinde explained that the loan would be utilized to expedite the completion of the ongoing Rashidi Ladoja circular road and alleviate traffic congestion within the Ibadan metropolis.

The Speaker, Adebo Ogundoyin, conveyed the governor’s message during the plenary.

It is crucial to extend support to the state government in its efforts to enhance the current condition of roads and overall infrastructure in the state.

“The House needs to be furnished with details of the loan repayment plan and other necessary information that will aid legislative considerations.

“The Chairman of House Committee on Works and that of Appropriation should deliberate on the implications of the loan, find out the current state of the state’s debt profile and the pay-back mechanism of debts already acquired.

“How long will the project take, brief on the road, and how many sections of the road will the loan take care of?

“Find out if the road project will add to the state’s internally-generated revenue (IGR) and how long the project will take and the benefits of the road construction to the people of the state,” the speaker directed.

Ogundoyin stated that these inquiries would assist the House in its discussions regarding the loan.

The governor additionally requested the state legislature’s approval of Abdul-Raheem Abdul Rahman as the Chairman of the Oyo State Education Trust Fund (OETF).