The Oyo State Governor, Engr Seyi Makinde, has shed light on the recent loan obtained by the State Government, saying every loan taken has been strategically, thought out and for capital projects.
In a statewide broadcast to mark his one year in Office, Governor Makinde explained that the loans were being taken at aggressively negotiated terms and conditions.
He said the loan repayments would not be subject to the eluctuations of foreign exchange.
Governor Makinde further explained that of the recent 22.5 billion naira infrastructural loan approved by the State Legislature, 2.5 billion naira will be used to further upgrade healthcare infrastructure and facilitate the State’s Coronavirus response.
He said twenty billion is going to be spent on various infrastructural projects including the light up Oyo State phase two, building of Bus terminals security architecture, junction improvements, road projects and more.