Ogun Assembly okays Abiodun’s N250 billion three-year-credit facility

The Ogun State House of Assembly yesterday granted approval to the state government to access N250 billion only as three years Medium-Term Expenditure Framework programme of the state. Nigeria OgunState DapoAbiodun

The Assembly’s approval followed the passage of a resolution moved by the Majority Leader, Yusuf Sheriff, seconded by Jemili Akingbade and supported by all the lawmakers through a voice-vote at a plenary presided by Speaker Olakunle Oluomo.

According to the approval, the medium-term financial programme would be carried out in tranches of N100 billion yearly through any of bond issuance, public offering, book building or other methods as may be approved by regulatory authorities, while access to other tranches would be subject to further approval of the state House of Assembly.

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