Categories
World News

Gov. Obaseki submits 2021 supplementary budget to House of Assembly

Governor Godwin Obaseki  has submitted the 2021 supplementary budget to Edo State House of Assembly for consideration and passage into law.
This was contained in a letter signed by the governor and addressed to the speaker of the house, Rt.Hon.Marcus Onobun
The speaker, Mr Marcus Onobun after reading the letter to the house referred the bill to the house Committee on appropriation for necessary action.
In a related development, the house has approved #18, 746, 059, 992.57 billion naira (Eighteen billion, seven hundred and forty six million, fifty nine thousand, nine hundred and ninety-two naira, fifty-seven Kobo) for the state government.
The approval followed a letter by Governor Godwin Obaseki which was addressed to the speaker of the house.
The governor stated in the letter that President Muhammadu Buhari had approved Central bank of Nigeria (CBN) loan for each of the 36 states of the federation to bridge finance facility of #656, 112, 009, 740. 03 (Six hundred and fifty six billion, one hundred and twelve million, nine thousand, seven hundred and forty naira, three Kobo).
He explained that the loan would be repaid in 36 months after a moratorium period of 24 months.
The speaker thanked the president for approving the loan pointing out that what the president did showed that the he was responsive to the plight of the people.