The Enugu State House of Assembly has approved the state government’s request to access the Central Bank of Nigeria Infrastructure Finance Facility of N15 billion.
The request was contained in a letter sent to the assembly by the Enugu State governor, Ifeanyi Ugwuanyi, and signed by the Secretary to the State Government, Prof. Simon Ortuanya.
In the letter, Ugwuanyi explained that the reason for the loan was to specifically finance the infrastructure development in the state.
The letter stated that the infrastructure loan at a single-digit interest rate of 9 per cent would be domiciled with the United Bank of Africa (UBA) and disbursed to contractors’ accounts.
A member representing Oji River Constituency, Jeffrey Mbah, in his speech described the loan as “manna from heaven” and pinpointed three salient points in favour of the loan.
Other legislators who also contributed disclosed that the loan became necessary to enable the state government to complete the numerous ongoing projects as well as initiate new ones.
The Speaker, Enugu State House of Assembly, Edward Ubosi, appreciated his colleagues for unanimously approving the loan for the state and called on the chairman, committee on works and other committees to ensure the loan was utilised for the purposes of infrastructure development in the course of their oversight function.
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