Oyo Assembly Okays Makinde’s Request To Borrow 50BN • To Screen Justice Yerima As Chief Judge
On Thursday, the Oyo House of Assembly granted the governor’s request to borrow N50 billion to finance ongoing and future infrastructural projects in the state.
A commercial bank would give the N50 billion contract finance facility at an interest rate of between two and four percent spread over 48 months in order to finance a selected group of projects.
Some of the new and current road infrastructure projects around the state that will be supported from the loan were enumerated in the letter that was read during the plenary, which was presided over by the deputy speaker, Honorable Abiodun Fadeyi.
In seeking the Assembly’s approval of the loan, Majority Leader, Honourable Sanjo Adedoyin said the fund will go a long way in enabling the current government to execute contracts for infrastructure development projects.
He added that the fund will also help the state to continue to bridge its infrastructure gap.
At the plenary meeting on Thursday, the Assembly was asked to ratify the nomination of Justice Iyabo Yerima as the state’s chief judge in a different letter.
The House Committee on Judiciary will assess Yerima, according to the Fadeyi-led meeting, which will subsequently bring its findings to the Assembly for discussion and eventual approval.
Kunle Balogun, the Vice-Chairman of the Ona-Ara Local Government, was also reinstated during the plenary on Thursday.
The chairman of the house committee on local government, chieftaincy matters, and state honors, the honorable Olajide Akintunde, read the committee’s report of findings and stated that Balogun was not found responsible for any financial misconduct or mismanagement of public funds, aside from accusations of gross misconduct on party activities leveled against him, and that the legislative council of the Ona Ara Local Government Area had suspended him unfairly.
Adedokun Ololade, the Deputy Leader of the House and Acting Vice-Chairman of the Ona-Ara Local Government Legislative Council, was also requested to vacate from his position.
The Assembly had mandated the House Committee on Local Government, Chieftaincy Matters and State Honours to investigate the suspension of Balogun by the Legislative Council effective November 15, 2022, with Deputy Leader of the House, Adedokun Ololade announced as his replacement.
