Home News 3 Months After 10bn ‘Infrastructural Loan’, Makinde To Borrow 7.6bn To Build...

3 Months After 10bn ‘Infrastructural Loan’, Makinde To Borrow 7.6bn To Build Farm Settlements


The Oyo State House of Assembly on Thursday granted Governor Seyi Makinde permission to access the Seven Billion, Six hundred thousand naira (N7.6B) loan for Akufo – Eruwa Farm settlement.

This came few weeks after the same assembly approved Makinde’s permission to collect N10 billion Naira loan for infrastructural development.

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This was mentioned and approved by the Honourable Speaker of the House, Rt. Hon. Adebo Ogundoyin while reading Makinde’s letter.

This approval was sequel to the letter forwarded by the governor and read by the Speaker, Hon. Adebo Ogundoyin at plenary, today, October 10th, 2019.

After heated deliberations by members on the issue, majority of the lawmakers observing that the loan facility should spread across farm settlements in the state, the Speaker finally ruled that the loan would be approved as sent by the governor.

The governor is seeking to access the N7.6 billion naira loan to develop Akufo and Eruwa farm settlements into farm estates in the state.

The two farm settlements, which are located within Ido/Ibarapa federal constituency are to serve as pilot projects which will be used to develop other farm settlements across the state.

In their separate reactions, the deputy Speaker, Hon Abiodun Fadeyi and the Minority Leader, Hon Asimiyu Alarape called for the extension of the loan facility to other areas across the state.

They equally urged the Executive arm of Government in Oyo state to ensure judicious use of the Agricultural loan to enable it achieve the purpose for which it is sought.

Hon. Isiaka Tunde representing Oyo East/ Oyo West constituency and Hon. Dele Adeola representing Iseyin/Itesiwaju state constituency also expressed their dissatisfaction on concentration on the loan to only two farm settlements within only one federal constituency.

They noted that there is need for Governor Seyi Makinde to spread the scope and usage of the agricultural loan to other zones in the state and not limit it to Akufo and Eruwa farm settlements alone.

While passing the resolution, the Speaker, Hon. Adebo Ogundoyin overruled the submission of other lawmakers, stated that the loan facility would be approved as presented by the governor.

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