Lekki-Epe road: Lagos Assembly approves Sanwo-Olu’s N18.2bn loan from FG

Lekki-Epe : Lagos Assembly approves Sanwo-Olu’s N18.2bn loan from FG

The Lagos State House of Assembly has approved Governor Babajide Sanwo-Olu’s for a N18,225,336,103 loan to speed up the expansion of the Lekki-Epe Highway.

The facility, to be provided by the Federal of Finance, Budget, and National Planning, will also ensure the government complete some other projects.

The approval was granted at a sitting presided over by the , Mudashiru Obasa, after a report on the loan was presented Chairman, Committee on Finance, Rotimi Olowo.

Olowo said it comes with an interest rate of five per cent in the first two years and 9 per cent in subsequent years, with a two-year moratorium.

See also  Six hundred Nigerians risk deportation from Kuwait over expired resident permits

In separate contributions, endorsed Sanwo-Olu’s , agreeing it would further help Lagos to sustain its mega-city status.

Chairman, Committee on Information, Setonji David, explained that the loan has a single-digit interest rate and a repayment period of 30 years.

David expressed confidence that the project to be covered (Lekki-Epe) would drive sustainable economic and development in the state.

After a voice vote in support of the approval, Obasa directed the Acting Clerk, Olalekan Onafeko, to send a clean copy of the approval to the Governor.

However, in his Christmas message, the Speaker urged Christians and other Nigerians to continue to replicate love in daily activities.

See also  See How a Final Year Student Killed Himself

Obasa recalled that Jesus Christ preached and taught love as one of the greatest commandments from God.

Urging more prayers for the country, he advised citizens to ensure safe Yuletide celebrations, remain conscious of surroundings and sustain adherence to COVID-19 safety protocols.

Lekki-Epe road: Lagos Assembly approves Sanwo-Olu’s N18.2bn loan from FG

Omadaily.com is a News, job, vacancy, career opportunity blog. We daily updates on available Jobs, vacancies, local and international scholarships, Government/international organization loans and , together with daily devotionals.

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *

Subscribe for notification