22nd June, 2016
Abiodun Onafuye/Abeokuta
Ogun lawmakers have approved Governor Ibikunle Amosun’s request to obtain N14.16 billion 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, pension and other stakeholders.
The request was approved unanimously following a motion moved by the House Majority Leader, Mafe Adeyinka, (Sagamu 2).
While opening the debate on the motion, Lawmaker 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 expand the Internally Generated Revenue (IGR) of the State on capital projects.
Other lawmakers who contributed to the debate supported the motion and lauded the Federal Government for thinking ahead of time in finding solution to the current economic recession in the nation.
The lawmakers are the Deputy Speaker, Olakunle Oluomo, Ganiyu Oyedeji, Adebiyi Adeleye, Jemili Akingbade and Tunde Sanusi.
Other members such as Idowu Olowofuja, Oludare Kadiri, Yetunde Adekanbi-Sogbein, Akanbi Bankole, Olayiwola Ojodu and Olusola Sonuga said the facility would help to stimulate economic growth, explaining that the nation needed to borrow to run the economy during economic recession.
In his remark before passing the motion into resolution through a voice vote, the Speaker, Suraj Ishola Adekunbi praised his colleagues for their contributions to the debate.
He disclosed that the facility would be of great benefit to the State and serve as a means out of the current economic challenges.