KWARA GOVT EXPLAINS REASONS FOR OBTAINING N10BN LOAN

Yomi Ogunsola gave the explanation yesterday at a press briefing held at the Government House, Ilorin.

According to the two government officials, N2 billion from the sum of N10 billion loans raised from Guaranty Trust Bank (GTB) would be used for the construction of major rural feeder roads to assist farmers.

Adeoti explained that other projects to be executed with the loan included irrigation projects at N1.5 billion, completion of diagnostic centre at N500 million, Cargo Terminal Shed at Ilorin Airport at N600 million. He further said another sum of N500 million would also be used to embark on some projects at the Kwara State University (KWASU).

The commissioner added that five general hospitals in Offa, Omu-Aran, Share, Ilorin and Kaiama would be renovated at a cost of N1.3 billion from the loan. According to the commissioner, the Ilorin metropolis water reticulation would also gulp the sum of N1 billion, while another sum of N3 billion was allocated to Kwara Holding Company to manage 18 companies on behalf of the government.

Adeoti explained how the N17 billion bond collected last year was spent by the state government on projects like Aviation College, Ilorin, renovation of secretariat complex, Ilorin water projects, irrigation, diagnostic centre, among others. He assured the people of the state that the state government had never defaulted in settlement of its loan obligation.

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