The
Enugu State House of Assembly has approved a N30 billion loan request
for the executive to facilitate ongoing developmental projects scattered
in the state.
The motion approving the loan request received
the support of 23 lawmakers present at the sitting on Tuesday, including
the Speaker, Hon. Edward Ubosi, who commended his colleagues for
accepting the proposal.
This came on a day, the House also
unanimously passed a resolution, urging Governor Ifeanyi Ugwuanyi to
dissolve all boards of parastatals, departments and agencies under the
ministries in the state for their abysmal performance in monitoring,
evaluating and formulating policies for the various departments and
agencies under their supervision.
Leader
of the House, Ike Ezugwu, representing Udenu constituency while reeling
out the prayers contained in the resolution sponsored by 22 other
members, said, “this motion urges the House to approve for the
executive, through the Ministry of Finance to register a N15 billion
bond through the United Bank of Africa, UBA, with a 3-years profit plan
at the Capital Market and another N15 billion bridging finance facility
with a 12 percent interest in a repayment plan of 7 years making a total
of N30 billion.
“This has become imperative due to unstable cash
flow from the Federal Government as a result of fall in crude oil price
at the global market.”
The House, in considering the request,
revealed that the loan will come handy, judging from the lofty
developmental projects embarked upon by the executive which needed to be
completed to uplift the living standard of the people as promised
during electioneering campaigns.
They approved the loan request,
promising to carry out adequate oversight on the executive to ensure
prudent utilization of the funds in a manner that the people will get
value for their money.
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