Edo state assembly approves N100bn loan from First Bank for infrastructure

Edo State House of Assembly on Tuesday approved a N100 billion loan for the state to carry out infrastructural development across the state. The approval followed a letter addressed to the Speaker of the House, Blessing Agbebaku. The letter, signed by the Secretary to the State Government, Umar Ikhilor, stated that the contractual loan facility would be sourced from the First Bank Nigeria Plc.
The letter, titled, “Request for Legislative Approval of N100 billion, explained that the loan would support contractors’ financing for infrastructure projects in various parts of Edo. State. At the committee of the whole, the lawmakers unanimously supported the N100 billion request, saying that it would help complete all ongoing infrastructure projects in the state. The speaker directed the Clerk, Yahaya Omognai, to forward clean copies of the resolution approving the request to the governor for immediate implementation. The assembly also passed a bill establishing St. Matthew Royal College of Nursing Science, Edenu-Irrua.
 (NAN)