KWHA approves KWSG's access to N20b bond from the Capital Market
This followed a motion without notice raised by the leader of the House Hon. Hassan Oyeleke on utilisation of the accessed loan for some critical development projects in the State.
The projects enumerated by the House were arrived at following public hearing in various constituencies conducted by members.
The projects were Elerin way - Ga'a Iyaloja, Egbejila - Asa dam road, Idigba - Alfa Yahaya in Ilorin West LGA Maya - Ile-Apa - Lajiki - Oke-Oyi road in Ilorin East Amayo - Agbabiaka - Tanke road in Ilorin South, Afon - Aboto - Oyo State boundary road in Asa LGA, Osi -Obbo - Aiyegunle, 24km Offa township roads, Iloffa/Odo-Owa township roads, completion of Zambufu - Shagbe road, Offa GRA - Ipee township road, Ojugbede - Awe - Ohan road.
Other roads which the House directed the State Government to execute were Abati - Alara - Oloru road, Oke-Oyi - Lanwa road and Yahikira - More - Kishi rural roads to fast track the socio-economic transformation of the State.
He praised the Speaker of the State House of Assembly for creating the platform for the people of the State to have inputs in the projects that would be executed in their localities through the constituencies briefing which according to him was the first of its kind.
Hon. Oyeleke explained with delight that the Public hearings had helped to articulate the needs of the people which he said would help the State Government to execute only those projects that would have direct positive impact on the people of the State.
He said the current challenge of paucity of funds and dwindling federal allocation made it expedient for government to borrow money but the House he said resolved that in order to attain the best result, there should be a public hearing and consultations with kwarans in which most kwarans preferred road projects to other developmental strides.
Members who spoke on behalf of Kwara Central, South and North Senatorial Districts Hon. AbdulRafiu AbdulRahman, Barrister Kamaldeen Fagbemi and Alhaji Isiaku Adams who praised the Speaker for creating a platform for government to feel the pulse of the people on projects needed to be executed in their localities saying that the legislators remain the intermediary between the people and the government.
The Speaker in his remark, praised members for choosing to meet the yearnings of the people, he said the House under his leadership had higher responsibility of raising the bar of governance by reflecting the wishes of their people in projects to be executed in their localities and described this as democracy in action which other states of the federation should emulate.
Meanwhile, the House has authorised the State Government to raise debt capital of up to N20b for a tenor of 7years from the capital market on such terms and conditions and by any offering method as the State Executive Council may deem appropriate.
This followed the adoption of the report on the documents earlier submitted by the executive on the utilisation of the bond with some amendments on some projects like the Osi and Ilesha - Baruba campuses of the State University and Kaiama - Tesse road.
The House equally authorised the State to deduct on monthly basis a sum as may be determined by the State Executive Council from the statutory allocation accruing to the State from the Federation Account.
It also mandated the State Commissioner for Finance and Accountant General of the State to take all steps including issuing of a revocable standing order and letter of authority authorising the Accountant General of the federation to deduct the amount from the State's monthly statutory allocation from the federation account for the credit facility.
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