The Oyo State House of Assembly has granted approval for Governor Seyi Makinde's request to issue a ₦200 billion Infrastructure Bond. This financial move aims to refinance existing short-term loans that were utilized for funding essential infrastructure projects throughout the state. The decision was made after a thorough review of the formal request submitted by the governor to the Assembly. The bond issuance is expected to help mitigate refinancing risks and reduce interest costs associated with the state's financial obligations.
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