The Oyo Assembly approves Makinde’s proposal for a N50 billion loan.

Two more commissioner nominees are received by the assembly for examination.

Governor Seyi Makinde’s proposal to acquire a N50 billion revolving overdraft for the development of ongoing and capital expenditures in the state has been approved by the House of Assembly of Oyo State.

The decision followed a request letter that the governor had written to the state assembly, which Speaker Adebo Ogundoyin had read aloud at Tuesday’s plenary.

“The request is part of the present administration’s efforts towards financing its recurrent expenditure, which includes salary and conventions, capital expenditure, and support/finance various contractual obligations,” Governor Makinde stated in the letter.

The facility is available at a concessionary rate of 25.1% annually for a 45-month period. This could be reviewed depending on how the money market is doing.

During their consideration of the request, the legislators took note of the several initiatives that the State Government was working on around the State.

They said that the State Government would need such a facility in order to fulfil its financial responsibilities, particularly with regard to ongoing and capital expenditures.

In the meantime, the assembly accepted and declared the identities of two additional commissioner-designates that the governor had given to it.

Miss Wasilat Adegoke Adefemi, a native of Lanlate, and Dr. Oluwaserimi Adewumi Ajetunmobi are the names.

The governor’s letter, which the speaker read aloud at the plenary, states that the state government has determined that the two individuals are qualified to be appointed as Commissioners.

“Therefore, I am requesting that Miss Adegoke Wasilat Adefemi and Dr. Oluwaserimi Adewumi Ajetunmobi be screened and approved by the honourable house to serve as Commissioners.”

According to Ogundoyin, some ministries still lack commissioners. He also stated that the parliament will soon review the new commissioner-nominees.