The Oyo State Governor, Engr. Seyi Makinde, has requested a one hundred and fifty billion naira loan from the State House of Assembly to fund the ongoing Sen. Rashidi Ladoja circular road in Ibadan and other infrastructure projects.
The Governor conveyed the request in a letter read by the Speaker, Hon Adebo Ogundoyin, during a legislative session. Makinde emphasized the necessity of the loan to facilitate the completion of the 104km road project and similar infrastructure developments in Oyo State.
During deliberations, the House assigned its committees on Finance, Appropriation, and State Economic Planning, along with the Works committee, to investigate the loan request.
These committees were tasked with providing a comprehensive report on the loan proposal, including details of the repayment mode.
The Speaker underscored the importance of the committees obtaining all necessary briefs on the loan request and delivering a holistic report within one week.
He acknowledged the merit of securing funds for the Ibadan Circular Road and other infrastructure projects but emphasized the need to thoroughly consider the repayment mechanism and gather comprehensive details about the proposed loan.
