Oyo house of Assembly approves Governor Makinde’s N2bn loan request
The Oyo State House of Assembly has approved a loan request by the Governor of Oyo State, Seyi Makinde.
This happened on Wednesday, May 24, 2023.
The loan which Governor Makinde presented was a sum of N2bn and it has been approved by the Oyo state house of Assembly.
This was at the Plenary in Ibadan. Thisbis coming just a few days before he will round up his first term as Governor of Oyo state.
Recall Governor Malinde was reelected as Governor of Oyo state during the last gubernatorial elections in March 2023.
This loan is meant to be for the completion of some Major projects which are still ongoing in Oyo state.
The loan was offered by Fidelity Bank Plc and it is at a concessionary interest rate of 20.5% per annum.
The timeliness given for this is 36 months to repay.
Governor Malinde had requested for the parliament to approve this loan so he now access it and this letter was also forwarded to the state House of Assembly.
The Speaker, Adebo Ogundoyin had quoted the governor who said the loan would be repaid from the internally generated revenue account of the state domiciled with Fidelity Bank Plc.
The Oyo State House of Assembly has approved a loan request by the Governor of Oyo State, Seyi Makinde.
This happened on Wednesday, May 24, 2023.
The loan which Governor Makinde presented was a sum of N2bn and it has been approved by the Oyo state house of Assembly.
This was at the Plenary in Ibadan. Thisbis coming just a few days before he will round up his first term as Governor of Oyo state.
Recall Governor Malinde was reelected as Governor of Oyo state during the last gubernatorial elections in March 2023.
This loan is meant to be for the completion of some Major projects which are still ongoing in Oyo state.
The loan was offered by Fidelity Bank Plc and it is at a concessionary interest rate of 20.5% per annum.
The timeliness given for this is 36 months to repay.
Governor Malinde had requested for the parliament to approve this loan so he now access it and this letter was also forwarded to the state House of Assembly.
The Speaker, Adebo Ogundoyin had quoted the governor who said the loan would be repaid from the internally generated revenue account of the state domiciled with Fidelity Bank Plc.