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Assembly approves Udom’s N7bn loan request

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

The governor in two separate letters forwarded to the House and read by the speaker at plenary, Aniekan Bassey, requested the House of Assembly to authorise the state government to obtain N2 billion from the Central Bank of Nigeria (CBN) Commercial Agricultural Credit Scheme and N5 billion for the development of housing estates in the state.

According to the governor, the CBN Commercial Agricultural Credit Scheme will boost the cultivation of cocoa, coconut and maize in the state.

“The CBN Credit scheme is considered a good window for state governments and corporate bodies to access credits at relatively low-interest rates of five per annum to develop agriculture with its attendant advantages and benefits”, the governor’s letter read.

The House also approved the governor’s request to obtain N5 billion from Family Home Funds to finance the development of 650 affordable housing units for civil servants in the state at Ibiono Ibom and Itu local government areas.

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

Also at the plenary, the Akwa Ibom State Information and Communication Technology Development Agency Bill, 2020 passed the second reading and was committed to the House committee on science and technology for further scrutiny.

The House also ordered an investigation into the impeachment of Abasiama Etukakpan, former vice-chairman of Oruk Anam local government council, following petitions received through its committee on judiciary, human rights and public petitions.

Meanwhile, the House has adjourned its plenary until Tuesday, July 27, 2021.

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