Edo Assembly Approves Gov Okpebholo ₦100b Loan
By Towncriernews
The Edo State House of Assembly has approved a ₦100 billion loan facility from First Bank of Nigeria PLC to support Governor Monday Okpebholo’s administration in delivering key infrastructural projects across the state.
According to the State Assembly, the loan will be utilized to finance major infrastructural developments, contractor financing, and urban renewal projects in line with the governor’s five-point development agenda.
These projects are expected to boost economic growth, improve transportation, create job opportunities, and enhance the overall quality of life for Edo citizens.
Speaking during the plenary session, the Majority Leader, Jonathan Ibhamawu, highlighted several key projects the loan would support which include the construction of flyover bridges at Ikpoba-Hill, Dawson Junction, and Adesuwa Junction in Benin City, as well as the development of major roads in Edo Central, Edo South and Edo North Senatorial Districts.
Ibhamawu also explained that while the state government has budgeted for these developments, revenue allocations from the federal level have fallen short of expectations, making the loan necessary to meet the administration’s goals.
Amplifying Ibhamawu explanation, the Speaker, Blessing Agbebaku, emphasized that his local government Owan West and other local government would also benefit significantly from the infrastructural projects.
The loan approval was passed through a voice vote by the lawmakers, after which the Speaker directed the Clerk, Alhaji Yahaya Audu Omogbai, to forward clean copies of the resolution to Governor Okpebholo.
In a related development, the House also passed a bill for the establishment of St. Matthew College of Nursing Sciences, Edenu-Irrua, located in Esan Central Local Government Area following a clause-by-clause review by the members at the Committee of the Whole.
In a solemn moment, the Assembly observed a one-minute silence in honor of two staff of Edo State House of Assembly, who passed away over the weekend.
The House adjourned its plenary session to Wednesday, June 25, 2025.
