Lagos House of Assembly approves N250bn loan

The Lagos House of Assembly on Friday granted approval for Gov. Babajide Sanwo-Olu to access a loan of N250 billion for capital projects in the state.

The approval followed the report submitted by the Chairman, Committee on Finance, Mr Rotimi Olowo, which recommended the N100 billion bond loan and N150 billion syndicated loan.

Speaker of the House, Mr Mudashiru Obasa, noted that the approval for the loan was granted to bridge the huge infrastructural gap in the state.

Obasa, therefore, directed the Clerk of the House, Mr Azeez Sani to communicate the approval to the governor.