Edo State House of Assembly has approved a ₦100 billion loan facility from First Bank of Nigeria PLC to support Governor Monday Okpebholo-led administration in delivering key infrastructure projects across the state.
According to the state House of Assembly, the loan will be utilised to finance major infrastructure developments, contractor financing, and urban renewal projects in line with Governor Okpebholo’s five-point development agenda.
These projects are expected to boost economic growth, improve transportation, create job opportunities, and enhance the overall quality of life for Edo citizens.
Speaking during the plenary session, the Majority Leader, Hon. Jonathan Ibhamawu, highlighted several key projects the loan would support.
These include the construction of flyover bridges at Ikpoba-Hill, Dawson Junction, and Adesuwa Junction in Benin City, as well as the development of major roads in Edo Central, Edo South and Edo North Senatorial Districts.
Hon. Ibhamawu also explained that while the state government has budgeted for these developments, revenue allocations from the federal level have fallen short of expectations, making the loan necessary to meet the administration’s goals.
The Speaker, Rt. Hon. Blessing Agbebaku, emphasised that his local government, Owan West and other local government would also benefit significantly from the infrastructural projects.
The loan approval was passed through a voice vote by the lawmakers, after which the Speaker directed the Clerk, Alhaji Yahaya Audu Omogbai to forward clean copies of the resolution to the Governor.
In a related development, the House also passed a bill for the establishment of St. Matthew College of Nursing Sciences, Edenu-Irrua, located in Esan Central local government area.
The bill was passed following a clause-by-clause review by the members at the Committee of the Whole.
In a solemn moment, the Assembly observed a one-minute silence in honour of two staff of House of Assembly who passed away over the weekend.
