The Ogun state House of Assembly, south west Nigeria has approved the sum of N16.5 billion loan for the state government to fast track its on-going capital projects.
The breakdown of the loan revealed that N5 billion was meant for the internal loan while N1.6 billion was meant for the State Universal Basic Education (SUBEB) counterpart funding.
Some of the lawmakers who spoke before the approval of the loan maintained that while the SUBEB counterpart funding would ensure easy take off of the project in the state, the internal loan requested by the executive arm would ensure the speedy completion of all the capital projects, especially road construction being undertaking by the administration
They appealed to the executive arm of government to ensure that it capital projects cut across the entire senatorial District of the state.
The Speaker of the State House of Assembly, Honourable Suraj Adekunbi thereafter ruled that a clean copy of the bill be sent to the state Governor for his ascent.
The state governor had on the 16th of March, sent a letter to the House requesting the approval of the loans.
