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Why Gov. Aregbesola Wants N2bn Loan

Governor Rauf Aregbesola of Osun State has finally revealed why he sought for the approval of the State House of Assembly to access N2 billion from the Central Bank of Nigeria, CBN’s Micro, Small and Medium Enterprises Development Fund.

According to a letter sent by the Governor to the Osun lawmakers on 23 October, 2014 and read by the Speaker of the assembly, Mr Najeem Salaam, at the plenary on Tuesday in Osogbo, the loan was meant to create employment, wealth and facilitate economic development of the state.
P.M News reports that the letter also read that Aregbesola said the Memorandum of Understanding (MoU) that the state government signed with CBN stipulated that the resolution of the house on the said loan was required before it could be accessed.

Ogbeni Rauf Aregbesola Of Osun State. According to the governor, the loan was in line with the six-point integral action plan of his administration, and urged the assembly to give the request quick deliberation.

“You will recall that our government has formally requested to be considered as a beneficiary of N2 billion Micro, Small and Medium Enterprises Development Fund with the Central Bank of Nigeria.

“The Scheme is meant to create employment, wealth and economic development of our dear state, which is in line with our administration’s six-point integral action plan, which is banishing hunger.

“Apart from entering into the MoU with CBN among others, the resolution of the house is also a condition to be submitted to the CBN before the fund could be accessed.

“Consequently, I wish to request for the resolution of the house to approve the participation of the State of Osun in the CBN’s N2 billion Micro, Small and Medium Enterprises Development Fund,” Aregesola stated.

 Meanwhile, it was gathered that the speaker directed the House Committee on Finance and Appropriation, as well as the Committee on Commerce, Cooperative and Empowerment to liase with the appropriate ministries and government to know the depth of the request before dealing with it.

The committee was given one week to submit its findings to the House for appropriate action.

It would be recalled that Governor Aregbesola was re- elected for another four years in office by the people of Osun State in August.