Fayose's 19.6bn Approved By Ekiti Assembly

The N19.6bn loan facilities sought by Ekiti state governor, Ayo Fayose, has been approved by the Ekiti state house of assembly, today, September 9, the News Agency of Nigeria  reports.

Gov. Fayose congratulating Ekiti house of assembly speaker, Kola Oluwawole, during the latter’s inauguration, while the house clerk looks on

The decision by the house was a unanimous one following two different letters sent to the legislators by the governor seeking the house approval to go ahead with the process of obtaining the loan.

The title of the letters are: Consideration of the proposal of the State Government to Partake in the Excess Crude Accountand Consideration of the Intention of Ekiti State Government to Partake in the Federal Government Bailout Package to pay Backlog of Workers’ Salaries.

The loans will come from two notable banks in Nigeria, namely: Access bank; where the state government will get N10bn with a repayment plan of 10-year and 9 per cent and Skye bank; where the government will get N9,604,430,000 with a similar repayment plan.

The leader of the house,  Akinyele Olatunji, had described the state government’s intention as a commendable move and  appealed to members to give the request speedy considerations, adding that it would better the lives of Ekiti people.

He said: ”Access to the N10bn Excess Crude Account and over N9.6bn Federal Government bailout loan, respectively is a good development for the state.

”The loans will enable the present administration provide basic infrastructure and social amenities for the people. If the government is able to access these loans, the government will be able to execute developmental projects.’

”Apart from the loan being used to pay the backlog of workers’ salaries, it will also enable the government provide some basic social amenities in the state.”

Meanwhile, Lere Olayinka, a special assistant to Fayose on public communications and new media, has asked the All Progressives Congress  in Ekiti state to tell  President MuhammaduBuhari to make his assets public properlyas he had promised Nigerians during his election campaign.