The Edo House of Assembly on Tuesday approved a N100bn loan for Governor Monday Okpebholo to carry out infrastructural development across the state.
The News Agency of Nigeria reports that the approval followed Monday’s letter, addressed to the Speaker of the House, Blessing Agbebaku.
The letter, signed by the Secretary to the State Government, Umar Ikhilor, stated that the contractual loan facility would be sourced from the First Bank Nigeria Plc.
The letter, titled “Request for Legislative Approval of N100 billion”, explained that the loan would support contractors’ financing for infrastructural projects in various parts of Edo.
“Request for Legislative Approval of the sum of N100 billion from the First Bank of Nigeria Plc for the provision of contractor finance facility for the development of various infrastructural projects in Edo state.
“May I respectfully inform Mr Speaker that the Edo State Government desires to reposition Edo State through massive infrastructural upgrade and urban renewal to facilitate the realisation of the five-point agenda anchored on the SHINE Development Framework.
“May I also inform Mr Speaker that Edo State intends to obtain a contractor finance facility of one hundred billion naira from First Bank of Nigeria Plc, which will be disbursed to nominated contractors for the development of various infrastructural projects in Edo State.
“The development of critical infrastructural projects is aimed at enhancing transportation, creating employment opportunities, improving the quality of life for citizens, and boosting the economic growth in the state.”
At the Committee of the Whole, the lawmakers unanimously supported the N100 billion request, saying that it would help complete all ongoing infrastructure projects in the state.
The speaker directed the Clerk, Yahaya Omognai, to forward clean copies of the resolution approving the request to the governor for immediate implementation.
NAN reports that the house also passed a bill establishing St. Matthew Royal College of Nursing Science, Edenu-Irrua.
