Oyo State governor, Seyi Makinde, on Friday, said that the N7.6 billion loan approved by the House of Assembly on Thursday for the upgrading of two farm settlements in Akufo and Eruwa, to Farm Estates, is a victory for the people of in their pursuit of agricultural sustainability and economic emancipation.
The governor also made it clear that the loan was not a fresh one being sought by his government. The Oyo State helmsman, who described the decision of the state House of Assembly to grant immediate access to the loan facility, said the loan was borrowed from the Central Bank of Nigeria (CBN) for “agricultural equipment” by the immediate past administration of Governor Abiola Ajimobi.
A statement signed by the Chief Press Secretary to the governor, Mr. Taiwo Adisa, indicated that Governor Makinde had, in May 2019 when he was still governor-elect, moved to prevent the misappropriation of the funds by approaching the Oyo State High Court in Ibadan to get an injunction restraining the Ajimobi-led administration from accessing and spending the loan few days to the end of the tenure.
Governor Makinde maintained that contrary to insinuations that he was obtaining an additional N7.6 billion loan after an initial approval for N10 billion loan facility for infrastructure development, the N7.6 billion loan had already been approved by the CBN before he got to office.