By Suleiman Anyalewechi
The Edo State House of Assembly on Tuesday June 23, 2025, gave its nod to Governor Monday Okpebholo’s request for a N100 billion loan facility.
The approval came less than 24 hours after yte Governor tendered the request.
The Governor had, on Monday, forwarded a formal letter addressed to the Speaker, Rt Hon Blessing Agbebaku, seeking the approval of the legislators to secure the loan .
In the letter signed by the Secretary to the State Government SSG ,Umar Ikhilor, Government noted that the facility which would be sourced from First Bank, will be dedicated to the financing of some infrastructural projects across the State.
According to the State Government, the loan will be used to support contractors financing and other critical development programmes for the purpose of fastracking economic growth.
The State Lawmakers at the Committee of the Whole, on Tuesday, unanimously voted to approve the loan request.
Most of the members in their contributions, before the approval, noted that the funds would greatly assist in the completion of some vital ongoing infrastructural projects in the State.
They emphasized the huge potential gains that await the State with the completion of the ongoing projects.
Consequently, the legislative body directed the Assembly Clerk to take immediate steps to transmit the certified true copy of the resolution approving the loan request to the Governor for prompt implementation.
The Source reports that the humongous loan facility is coming barely less than 10 months in the life of the Governor Okpebholo’s administration.
Instructively, the loan request and its subsequent approval also are coming at a time the administration is still battling in the Court to secure its electoral mandate.
The petition filed by the Peoples Democratic Party PDP and its candidate in the September 21, 2024, Edo State Gubernatorial Election, Chief Asue Ighodalo, challenging the electoral victory of Governor Okpebholo is presently before the country’s Supreme Court for a final adjudication .
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