The Oyo State Government has approved N100bn private bond tagged the Oyo Prosperity Bond to facilitate the execution of priority projects in a bid to drive the state’s economic development.
This was disclosed in Ibadan by the Commissioner for Information, Culture and Tourism, Dr Wasiu Olatubosun, after the weekly State Executive Council meeting.According to Olatubosun, the fund would be raised in two tranches of N50bn each for the construction of the 50-kilometre Iseyin-Ogbomoso Road, the Ibadan Circular Ring-Road and the upgrade of the Ibadan Airport.
The commissioner stated further that the state would upgrade one government hospital in each of the three senatorial districts of the state. He said, “Considering the infrastructural needs of Oyo State to enhance its economic potential, the state government has approved the issuance of private bond tagged Oyo Prosperity Bond to facilitate the execution of priority projects with a view to raising N100bn, which is to be raised in two tranches of N50bn each.
However, the All Progressives Congress in Oyo State decried what it described as Governor Seyi Makinde’s financial recklessness occasioned by administrative naivety.The party said incessant borrowing would lead the state into financial abyss.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Oyo APC berates Makinde over attempt to borrow N100bn for road projects - Daily Post NigeriaThe Oyo State chapter of the All Progressives Congress (APC) on Wednesday condemned the decision of Governor Seyi Makinde to source for N100 billion bond
Read more »
COVID-19: Makinde cancels third term for Oyo schools, announces resumption datePromotion of students, for all affected classes, will be determined by first and second term continuous assessment.
Read more »
Makinde confirms 26 new cases of coronavirus in Oyo - Daily Post NigeriaGovernor Seyi Makinde of Oyo State on Wednesday confirmed twenty-six (26) new cases of Coronavirus in the state. Makinde who made this known in a
Read more »
Oyo to repatriate 40 indigenes from Lebanese slave camps|p style=
Read more »
Oyo releases school reopening exams timetable|p style=
Read more »
Oyo cancels third term, announces school resumption date|p dir=
Read more »