Ogun Assembly Accepts Amosun’s N14.16b loan Request
Ogun State House of Assembly, yesterday, granted approval to Governor Ibikunle Amosun’s request to obtain N14.16 billion from the Federal Government Budget Support Facility to the States of the Federation.
The facility was meant to provide financial support to the States with a view to positioning them to navigate the present economic challenges and meet the obligations of staff, pensioners and other stakeholders.
The Governor had sent a request letter to the Assembly urging it to allow him access the Federal Government bailout second time.
The Assembly’s approval followed a motion moved by the Majority Leader, Mafe Adeyinka, and supported by the members.
Opening debate on the motion, Mafe said the facility which was for a 10-year tenor with a single digit interest rate, would reduce the financial burden of the state, thereby creating avenue for the government to expend the Internally Generated Revenue of the State on capital projects.
Passing the motion into resolution through a voice vote, the Speaker, Suraj Adekunbi lauded his colleagues, saying the facility would be of great benefit to the state and serve as a means out of the current economic challenges.