Ogun State Governor, Dapo Abiodun, has sought the approval of the state House of Assembly to access a concessionary loan of N1.5bn.
This was disclosed by Speaker of the state legislature, Olakunle Oluomo, whole reading a letter by the governor at plenary. The letter would be obtained from the Central Bank of Nigeria for the Anchor Borrowers’ Programme with a single digit interest rate.
Oluomo, who acknowledged the governor’s correspondence dated September 6, 2019, stated that the state government had indicated interest to participate in the CBN programme.
He said the governor, according to the letter, sought the parliament’s approval to access the fund so as to carry out land clearing, other logistics requirements and support already identified alongside with the CBN.
The letter read in part, “This will greatly enhance the wealth creation and employment generation efforts for our teeming youths, build capacity, reduce crimes and generally improve the living conditions of the participants.
“The funds that will be accessed under the scheme will be utilised by farmers, organised into clusters across the state with particular focus on cassava, rice and maize production.
“Consequently, I write to seek the concurrence of the House in support of our request to participate in the programme.”
The Speaker, therefore, directed the Director General, Debt Management Office in the state; the Economic Adviser to the Governor; the Permanent Secretary and Directors in the state Ministry of Agriculture to appear before the lawmakers.
He said the officials would be expected to address the parliament on the essence of the proposed credit facility today.
The Speaker also acknowledged another letter by the governor, proposing “a bill for a law to provide for the establishment of the Ogun State Sports Trust Fund and connected purposes”