The Oyo State House of Assembly has approved the request of the state governor, Engineer Seyi Makinde, to obtain a fresh N50 billion loan on Thursday.
The lawmakers approved the request during the plenary presided over by the Deputy Speaker, Muhammad Abiodun Fadeyi (Ona Ara).
The Speaker of the assembly, Adebo Ogundoyin, whose mother, Mrs Justina Ogundoyin, died recently, did not attend the plenary.
All the lawmakers elected on the platform of All Progressives Congress (APC) were conspicuously absent during the plenary.
All the lawmakers elected on the platform of APC in 2019 lost during the recently conducted elections in their respective constituencies.
Some of those who were not present at the plenary on Thursday included the Minority Leader, Asimiyu Niran Alarape (Oyo East/Oyo West), Isiaka Kazeem Tunde (Atiba), Olawumi Oladejo (Ogbomoso North) and Seyi Adisa (AFIJIO).
The reason for their absence has not been revealed as of the time of filing this report on Friday.
Makinde, who won a second term in office, assumed the position in May 2019 and has sent no fewer than five loan requests to the house, which were approved.
Webteam@ipledge2nigeria reports that the lawmakers had, in July 2019, endorsed the requestby the Governor to take N10bn infrastructure loan.
The lawmakers also, in October 2019, approved the request of the governor to access N7bn Central Bank of Nigeria (CBN) loan to boost farm settlements in Akufo in Ido Local Government Area and Eruwa in Ibarapa East Local Government Area of the state.
In August 2021, another N6bn credit facility was approved for the governor.
October 2021, the state lawmakers, approved the request of the state governor to access the N18.7bn Federal Government Bridge loan facility.
The lawmakers also in June 2022, approved an additional loan request of N2bn for the governor.
The governor, in the letter sent to the lawmakers, said that the decision to take the latest loan was to complete ongoing projects and execute new ones in the state.
The letter from the governor was read by the Deputy Speaker, Abiodun Fadeyi, who presided over the plenary on Thursday.
Majority Leader of the house, Sanjo Adedoyin Onaolapo, in his presentation, said the fund would go a long way in enabling the current government to execute contracts for infrastructure development projects.
The lawmakers who were present during the plenary then unanimously approved the request of the governor.
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