According to report reaching OYOGist.com, the Oyo State Management has accepted N100bn bond tagged ‘The Oyo Prosperity Bond’ to expedite the implementation of primacy tasks in an attempt to manage the state’s economic growth.
In relation to Olatubosun, the money would be raised in two proportion of N50bn respectively for the building of the 50-kilometre Iseyin-Ogbomoso Road, the Ibadan Circular Ring-Road and the enhancement of the Ibadan Airport.
The fund will additionally cowl the development of Ibadan Dry Port and the rail hall which will serve as economic hubs of the state.
The commissioner mentioned in addition that the state would improve one authorities medical institution in each of the three parliamentary region of the state. He introduced that the 21-kilometre Airport-Ajia-New Ife Express Road, with a road to Amuloko in Ibadan, ought to benefit from the alternative project funding strategy of the state management.
He exclaimed, “Considering the structural requirements of Oyo State to develop it’s economic capability, the state authorities has approved the disbursement of private bond identified as “Oyo State Prosperity Bond” in order to expedite the execution of precedence initiatives with an idea to raising N100bn, which is to be raised in two proportions of N50bn for each.
However, the APC – All Progressives Congress in Oyo State denounced what is delineated as Governor Seyi Makinde’s financial temerity occasioned with the aid of administrative credulity.
The party administered in a report earlier on Wednesday via its state Publicity Secretary, named AbdulAzeez Olatunde. The party exclaimed unabating borrowing would cause the state into financial chasm.