Akwa Ibom Assembly approves Gov. Emmanuel’s N7 billion loan request

July 15, 2021
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The Akwa Ibom State House of Assembly, on Thursday, July 15, 2021, approved N7billion loan request by the Governor, Udom Emmanuel.

The governor had earlier in two separate messages to the House requested for authority to obtain N2billion for the CBN Commercial Agricultural Credit Scheme and N5billion for the development of Housing Estates in the State.

He 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 of 5% per annum to develop agriculture in the state with its attendant advantages and benefits”, the Governor’s message read.

After the Speaker, Mr Aniekan Bassey read the letters at the plenary, the House also approved the Governor’s request to obtain N5Billion 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.

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 the state government and other agencies of government for housing projects.

Also at Plenary, the Akwa Ibom State Information and Communication Technology Development Agency Bill, 2020 passed Second Reading and was committed to the House Committee on Science and Technology for in-depth study and scrutiny.

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

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