Makinde in a letter to the House said the request became expedient due to dwindling revenue from the Federation Account and low Internally Generated Revenue owing to the outbreak of the Coronavirus Disease.
The request letter stated that the N20 billion infrastructure financing facility will be sourced from First Bank of Nigeria Limited.
The Assembly said it approved the loan to enable the state government address difficulty faced in fixing infrastructure in the state.
While moving motion in favour of the loan, Majority Leader, Hon. Sanjo Adedoyin, and Minority Leader, Hon. Asimiyu Alarape, urged the state government to ensure that all zones of the state benefit in terms of improved infrastructure.
Alarape added that he supported the loan request because it was not to pay salaries and that there was apparent deficit in infrastructural facilities across the state.
SOURCE:THE EAGLE ONLINE
