The Oyo State House of Assembly has granted Governor Seyi Makinde’s request for overdraft of N50 Billion to pursue the state’s current and capital expenditures.
The request of Governor Seyi Makinde to access N50billion revolving overdraft for the development of recurrent and capital expenditures in the State.
The approval was sequel to a request letter sent to the Oyo State House of Assembly by the governor and read at the plenary on Tuesday by the Speaker, Hon. Adebo Ogundoyin.
Governor Makinde in the letter said “the request is part of the efforts of the present administration towards financing its recurrent expenditure which includes salary and conventions, capital expenditure and support/finance various contractual obligations.”
According to the letter, the overdraft facility is for a period of 45 months at a concessionary rate of 25.1% per annum.
The facility is also subject to review in line with the prevailing money market conditions.
While deliberating on the request, the lawmakers acknowledged the various projects being embarked upon by the government across the state.
They said such a facility was inevitable to enable the government to meet up with its financial obligations especially in terms of its recurrent and capital expenditures.
Two Names Of Commissioner Nominees
Meanwhile, the Oyo State House of Assembly has received two other commissioner nominees submitted by Governor Seyi Makinde.
The Speaker, Hon. Adebo Ogundoyin, while reading a letter forwarded by the governor, announced Miss Wasilat Adegoke Adefemi and Dr. Oluwaserimi Adewumi Ajetunmobi as commissioner nominees.
Governor Makinde, according to the letter said the two personalities have been considered worthy of appointment as commissioners by the State Government.
“I, therefore request for the screening and approval of the honourable house for the screening of Miss Adegoke Wasilat Adefemi and Dr. Oluwaserimi Adewumi Ajetunmobi to serve as commissioners”
Hon. Ogundoyin said that there are some ministries that are yet to have commissioners, adding that the new commissioner nominees will be screened soon by the House.
The Speaker said the two nominees may be screened on Wednesday.
Packaged by Adekunle Adegboyega
