Akwa Ibom Assembly approves Governor Emmanuel’s N7 billion loan request


The Akwa Ibom House of Assembly has approved Governor Udom Emmanuel’s request to obtain N7 billion loan for agricultural and housing projects in the state.

The governor in two separate messages forwarded to the House and read by the Speaker, Aniekan Bassey, at plenary on Thursday, requested the House to authorise the state government to obtain N2 billion from the Central Bank of Nigeria (CBN) Commercial Agricultural Credit Scheme.

The governor also requested N5 billion for the development of housing estates in the state.

The governor in his letter said the CBN Commercial Agricultural Credit Scheme would boost the cultivation of cocoa, coconut and maize in the state.

“The CBN Credit Scheme is considered a very good window for state governments and corporate bodies to access credits at relatively low interest rates at five per cent per annum to develop agriculture with its attendant advantages and benefits,” Mr Emmanuel said.

The N5 billion would be sourced from the Family Home Funds to finance development of 650 affordable housing units for civil servants in the state at Ibiono Ibom and Itu Local Government Areas.

The Family Home Fund is an establishment of the Federal Government to spearhead development of housing estates in the country and provide funding to state government and other agencies of government for housing projects.

Also at plenary, the Akwa Ibom Information and Communication Technology Development Agency Bill, 2020 passed through the second reading and was committed to the House Committee on Science and Technology for scrutiny.

READ ALSO: Senate approves Buhari’s external loan request of $1.5bn, €995m

The House also ordered an investigation into the impeachment of Abasiama Etukakpan, Vice Chairman of Oruk Anam Local Government Council, following petitions received through its Committee on Judiciary, Human Rights and Public Petitions.

The House is to reconvene on July 27.

(NAN)

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