Ogun State House of Assembly has granted approval to Governor Ibikunle Amosun’s request to obtain N14.16bn from the Federal Government Budget Support Facility to the states of the federation.
The facility was meant to provide financial support to the states with a view to positioning them to navigate the present economic challenges and meet the obligations of staff, pensioners and other stakeholders.
The approval followed a motion moved by the Majority Leader, Hon. Mafe Adeyinka, seconded by a member representing Yewa North II State Constituency, Hon. Rasaq Oduntan and supported by the whole House.
Opening debate on the motion, Hon. Mafe said that the facility which was for a ten year tenor with a single digit interest rate, would reduce the financial burden of the state, thereby creating avenue for the government to expend the Internally Generated Revenue (IGR) of the state on capital projects.
Contributing to the debate, members including the Deputy Speaker, Olakunle Oluomo, Honourables Ganiyu Oyedeji, Adebiyi Adeleye, Jemili Akingbade and Tunde Sanusi supported the motion and lauded the Federal Government for thinking ahead of time in finding solution to the current economic recession in the nation.
They decried the havoc wrecked by the Niger Delta Avengers on the nation’s economy which had depleted the revenue accruable from the sales of crude oil.