The Oyo State House of Assembly has approved the request of the state governor, Engr. Seyi Makinde to access N7.6 billion loan to boost farm settlements in Akufo and Eruwa.
The approval followed a letter forwarded to the house by the governor and read by the Speaker, Hon. Adebo Ogundoyin, at plenary on Thursday.
After heated deliberations by members on the request, majority of the lawmakers noted that the loan facility should spread across farm settlements in the state but the Speaker ruled that the loan would be approved as requested by the governor.
The governor is seeking to access the N7.6 billion loan to develop and upgrade Akufo and Eruwa farm settlements into farm estates.
The two farm settlements, which are located in Ido/Ibarapa federal constituency are to serve as pilot projects which will be used to develop other farm settlements across the state.
This is the second time in four months the governor would be seeking the Assembly’s approval for a loan request after it approved a N10 billion loan for the executive in July.
In their separate submissions, 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 to ensure judicious use of the loan to enable it achieve the purpose for which it was sought.
Reacting , Hon. Isiaka Tunde representing Oyo East/ Oyo West constituency and Hon. Dele Adeola representing Iseyin/Itesiwaju state constituency respectively, expressed their dissatisfaction about the loan being expended on two farm settlements within one federal constituency.
They noted that there is need for the governor to spread the upgrade of farm settlements to other zones.