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Thursday, December 2, 2021

24 hours after gifting luxury cars to party chairmen, Oyo Gov gets N18.7bn FG loan approval

Oyo House of Assembly has given its nod to Governor Seyi Makinde to access N18.7bn Federal Government Bridge Facility loan meant to cushion the effect of Covid-19 pandemic in the State. The Nation reports

Recall that INTEL Region reported that the  kind hearted governor gave party chairmen two luxury jeeps yesterday, amidst hunger and abject poverty

The request was contained in a letter forwarded to the Assembly by the Governor read during late Monday’s emergency plenary by the famous Speaker Adebo Ogundoyin.

President Muhammadu Buhari approved the bridge facility for all the 36 states of the Federation and it will be accessed from the Central Bank of Nigeria (CBN).

It was meant to give support to States following the resumption of monthly deductions for the repayment of their various loan facilities.

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The Federal Government had earlier suspended the monthly repayment of loan facilities by States due to the effects of the COVID-19 pandemic.

The lawmakers, in their comments on the request, agreed that such a loan facility from the Federal Government was necessary and timely as many States recorded huge losses during the pandemic.

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