The Oyo State House of Assembly has approved the request of the state governor, Engineer Seyi Makinde, to obtain a fresh N50 billion loan on as the Speaker of the assembly, Adebo Ogundoying was absent on Thursday.
Daily Post reported that the lawmakers approved the request during the plenary presided over by the Deputy Speaker, Muhammad Abiodun Fadeyi, Ona Ara.
The Speaker of the assembly’s mother, Mrs Justina Ogundoyin, died recently.
It was learnt that all the lawmakers elected on the platform of All Progressives Congress were conspicuously absent during the plenary.
All the lawmakers elected on the platform of APC in 2019 lost during the recently conducted state assembly elections in their respective constituencies.
Among those who were not present at the plenary were the Minority Leader, Asimiyu Niran Alarape, Oyo East/Oyo West, Isiaka Kazeem Tunde (Atiba), Olawumi Oladejo, Ogbomoso North, and Seyi Adisa, AFIJIO.
It was said that the reason for their absence has not been ascertained as of the time of filing this report on Friday.
It was gathered that Oyo Governor who won his re-lection bid at the poll on March 18, 3023, assumed the position in May 2019 and has sent no fewer than five loan requests to the house, which were approved.
It also said that the lawmakers had, in July 2019, endorsed the request by the Governor to take N10bn infrastructure loan.
The lawmakers also, in October 2019, approved the request of the governor to access N7bn Central Bank of Nigeria loan to enhance farm settlements in Akufo in Ido Local Government Area and Eruwa in Ibarapa East Local Government Area of the state.
In August 2021, another N6bn credit facility was approved for the governor.
October 2021, the state lawmakers, approved the request of the state governor to access the N18.7bn Federal Government Bridge loan facility.
The lawmakers also in June 2022, approved an additional loan request of N2bn for the governor.
In the letter sent to the lawmakers, Makinde stated that the decision to take the latest loan was to implement ongoing projects to completion level and execute new ones in the state.
The letter from the governor was read by the Deputy Speaker, Abiodun Fadeyi, who presided over the plenary on Thursday.
While presenting the letter, Majority Leader of the house, Sanjo Adedoyin Onaolapo, maintained that the fund would go a long way to boost government efforts to execute contracts for infrastructure development projects.
The lawmakers who were present during the plenary were said then unanimously gave nod to the request of the governor.