The Oyo State House of Assembly has approved His Excellency Governor Seyi Makinde’s access to N18.7bn Federal Government Bridge Facility meant to cushion the effect of Covid-19 pandemic in the State.

President Muhammadu Buhari approved the bridge facility for all the 36 states of the Federation and it will be accessed from the Central Bank of Nigeria, CBN.

It was meant to give support to states following the resumption of monthly deductions for the repayment of their various loan facilities.

The request which was contained in a letter forwarded to the state legislature by Governor Seyi Makinde and read by the Speaker, Hon Adebo Ogundoyin during Monday’s plenary.

The lawmakers in their comments on the request agreed that such loan facility from the federal government was necessary and timely as many states recorded huge loss during the pandemic.

According to Hon. Akeem Adedibu (Chief Whip), Hon Babajide Gabriel (Ib. North 2), Hon Bamidele Adeola (Iseyin/Itesiwaju) and Hon Ayo Fatokun (Akinyele 1), since all the states are to access the loan facility, Oyo State should not be left out.

They however urged the Oyo State Government to judiciously disburse the loan towards developmental projects across all the senatorial districts in the State.

The Minority Leader, Hon Asimiyu Alarape suggested that the loan facility be used to develop key sectors, he however went further to urge the State Government to be wary of the consequences of too many loans.

Hon Ogundoyin assured that the House through its Committee on Public Account and Appropriation will perform it’s function by diligently monitoring the accessing and the spending of the loan in order to ensure that it is used to enhance the infrastructural development of the State.

The Speaker, Hon Adebo Ogundoyin said it was thoughtful of the Government at the center to give financial support to the State Governments considering the scale of projects lined up in the various States.