Gov Abiodun Seeks N1.5bn Loan For ABP In Ogun

CBN Governor, Godwin Emefiele


The Ogun State Governor, Prince Dapo Abiodun has sought the approval of the State House of Assembly to access a concessionary loan of N1.5bn only from the Central Bank of Nigeria (CBN) for the Anchor Borrowers’ Programme (ABP), with a single digit interest rate.

The Speaker, Rt. Hon Olakunle Oluomo, who disclosed this at a Plenary at the State’s House of Aseembly, Oke-Mosan, while acknowledging the Governor’s correspondence, stated that the State Government had indicated interest to participate in the Central Bank of Nigeria (CBN) programme to access the fund for land clearing and other logistic requirements and support, identified alongside with CBN.

“This will greatly enhance the wealth creation and employment generation efforts for our teeming youth, building capacity, reduce crimes and generally improve the living conditions of the participants.

 ‘’The Funds that will be accessed under the scheme will be utilised by farmers, organised into clusters across the State with particular focus on cassava, rice and maize production; consequently I write to seek the concurrence of the House in support of our request to participate in the programme”, the Governor stated. 

According to the Governor’s letter, the pursuit of the administration was aimed at ensuring sustainable economic development of the State, individual prosperity of the citizenry, agriculture and food security, with emphasis on boosting production and optimization of the value chain.

The Speaker therefore directed the Director General, Debt Management Office in the State, Economic Adviser to the Governor, Permanent Secretary and Directors in the State Ministry of Agriculture to appear before the House for further briefing on the proposed credit facility on Tuesday, September 17, 2019 at the Assembly’s Conference Room by 12 noon.

The Speaker also acknowledged the Governor’s letter proposing Bills for a law to provide for the Establishment of the Ogun State Sports Trust Fund and connected purposes and another, seeking to provide for the Establishment of the Ogun State Sports Commission and for connected purposes.

Meanwhile, two Bills scaled through first reading in the hallowed Chamber of the Assembly.  The Bills were HB. No 023/OG/ 2019- The Magistrates’ Court (Amendment) Law, 2019 and HB. No 024/OG/ 2019- The Customary Courts (Amendment) Law, 2019, read by the Acting Clerk, Deji Adeyemo before the lawmakers


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