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Ogun assembly approves Gov. Abiodun’s N1. 5bn loan request

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 The Ogun Assembly through a resolution on Friday gave approval to the state government to access a concessionary loan of N1.5billion from the Central Bank of Nigeria (CBN) for the Anchor Borrowers’ Programme with a single-digit interest rate.

Mr Yusuf Sheriff (APC–Ado Ota 1) ,  moved the motion for the approval of the loan seconded byMrs Sikiratu Ajibola (APM – Ipokia) supported by the whole House. 
Opening debate on the resolution,  Olakunle Sobukanla (APC – Ikenne)  noted that it was important for the state government to participate in the CBN programme to access the fund.

Sobukanla  said that the loan would greatly enhance the wealth creation and employment generation efforts for the teeming youth, building capacity, reduce crimes and generally improve the living conditions of the participants.

Mr Abayomi Fasuwa (APC -Ijebu North East),  commended the state government for deeming it fit to participate in the CBN Anchor Borrowers Programmes. 

Fasuwa noted that the programme would lead to upliftment of the agricultural sector in the state. 

In his submission,  Mr Oludaisi Elemide (APC – Odeda), noted that the programme would create employment for the youths,  saying that it would earn the state good foreign exchange. 

Elemide explained that the pursuit of Gov. Dapo Abiodun’s administration was to ensure sustainable economic development  and individual prosperity of the citizenry with emphasis on boosting production and optimisation of the value .

Other members of the assembly who spoke supported the approval of the loan. 

OgunToday reports that Mr Olakunle Oluomo,  the Speaker,  had on September 16 read the letter of the governor during plenary  seeking approval to access a concessionary loan of N1.5billion from the Central Bank of Nigeria (CBN) for the Anchor Borrowers’ Programme.

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