{"id":31475,"date":"2022-06-23T19:40:04","date_gmt":"2022-06-23T19:40:04","guid":{"rendered":"https:\/\/www.withinnigeria.com\/broadnews\/?p=31475"},"modified":"2022-06-23T19:40:04","modified_gmt":"2022-06-23T19:40:04","slug":"oyo-assembly-approves-makindes-n2bn-loan-request-to-fund-donor-assisted-projects","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/broadnews\/2022\/06\/23\/oyo-assembly-approves-makindes-n2bn-loan-request-to-fund-donor-assisted-projects\/","title":{"rendered":"Oyo Assembly approves Makinde\u2019s N2bn loan request to fund donor-assisted projects"},"content":{"rendered":"<p><a href=\"https:\/\/www.withinnigeria.com\/broadnews\/2022\/05\/23\/fowokanmi-wins-pdp-primary-for-state-house-of-assembly\/\">Oyo State House of Assembly<\/a>, on Thursday, approved Gov. Seyi Makinde\u2019s request to access additional N2 billion loan facility from Fidelity Bank Plc.<\/p>\n<p>Reports have it that the loan will be at a concessional interest rate of 12 per cent per annum, with a repayment period of 12 months.<\/p>\n<p>NAN also reports that the facility is required to provide counterpart fund for donor-assisted projects across the state.<\/p>\n<p>Sequel to the approval, the Speaker, Mr Adebo Ogundoyin, had read a letter from the State Executive Council requesting the lawmakers\u2019 nod to access the additional N2 billion loan facility.<\/p>\n<p>Ogundoyin noted that it had become expedient for the <a href=\"https:\/\/www.withinnigeria.com\/broadnews\/2022\/04\/15\/invest-in-social-protection-to-address-poverty-unicef-appeal-to-kaduna-state-government\/\">state government<\/a> to fulfill its own part of the project agreement so as to ensure their speedy completion.<\/p>\n<p>According to the letter, the loan has become imperative in a bid to further complement the government\u2019s efforts on the provision of critical and iconic infrastructure and very laudable projects across the state.<\/p>\n<p>`The Executive Council is seeking the approval of the state House of Assembly to access additional N2 billion loan facility to provide counterpart funding to complete donor-assisted projects.<\/p>\n<p>\u201cThe facility is to be accessed from Fidelity Bank Plc at a concessional interest rate of 12 percent per annum, with a repayment period of 12 months and management fees of 0.25 per cent one-off,\u201d the letter read in part.<\/p>\n<p>Our correspondent reports that the projects include: COVID-19 Action Recovery and Economic Stimulus, Accelerating Nutrition Results Project in Nigeria, Ibadan Urban Flood Management Project, Better Education Service Delivery For All and UBEC\/SUBEB 2021 Matching Grant.<\/p>\n<p>In his contributions, the Majority Leader, Mr Sanjo Adedoyin, said that the purpose for which the loan facility was being sought was laudable.<\/p>\n<p>He stated that it was in line with the vision of the Makinde\u2019s led administration to ensure all-round development of the state.<\/p>\n<p>Another lawmaker, Mr Hakeem Adedibu, representing Iwajowa constituency, urged the assembly to approve the request to ensure the completion of all the projects, as highlighted in the letter.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oyo State House of Assembly, on Thursday, approved Gov. Seyi Makinde\u2019s request to access additional N2 billion loan facility from Fidelity Bank Plc. Reports have it that the loan will be at a concessional interest rate of 12 per cent per annum, with a repayment period of 12 months. NAN also reports that the facility [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":31507,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"footnotes":""},"categories":[11],"tags":[3993,3008,1832,3907],"class_list":["post-31475","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro","tag-development","tag-house-of-assembly","tag-loan","tag-project"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.8 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Oyo Assembly approves Makinde\u2019s N2bn loan request to fund donor-assisted projects &#187; BROAD NEWS \u2014 WITHIN NIGERIA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.withinnigeria.com\/broadnews\/2022\/06\/23\/oyo-assembly-approves-makindes-n2bn-loan-request-to-fund-donor-assisted-projects\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Oyo Assembly approves Makinde\u2019s N2bn loan request to fund donor-assisted projects\" \/>\n<meta property=\"og:description\" content=\"Oyo State House of Assembly, on Thursday, approved Gov. 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