The Ondo State House of Assembly has given approval to the state government to access a 50 billion naira bond to facilitate infrastructural development in the state.
Chairman House Committee on Finance and Appropriation Sunday Olajide while speaking on the request by the state government noted the N50 billion bond became imperative because of the ongoing projects being executed by Governor Rotimi Akeredolu
Other lawmakers who spoke on the request noted that the bond when accessed would accelerate development of the state.
The House therefore unanimously gave the nod for the state government to access the bond.
The bond would come in two tranches. The first tranche of 30 billion naira will be accessed now while the balance of 20 billion naira will be accessed later.
In the same vein, the House equally approved the state government’s request in favour of the Water Resources, Sanitation and Hygiene Ministry’s bid to access a facility of 702 million naira counterpart fund which is part of the 2.3 million dollars being managed by the Federal Ministry of Water Resources.
