N100bn Prosperity Bond Tied To Capital Projects – Oyo Commissioner

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Oyo State Commissioner for Information, Culture and Tourism, Dr. Wasiu Olatubosun has reiterated the stand of the State administration on using the #100billion bond sought by the government on capital projects and not on recurrent expenditure.

The State government recently announced its resolve to embark on major projects like development of the Ibadan Dry Port corner, expansion project at the Ibadan Airport, Alakia, Ibadan Circular Road and construction of Iseyin-Ogbomoso road among others.

Olatubosun said the projects were well thought out to bridge the dearth of capital infrastructures that would ensure the State attain economic independence as Ibadan and other zones of Oyo State would be opened up for commerce.

While speaking on an interview programme on Pensioners’ FM on Saturday, Dr. Wasiu debunked the rumor that the State was obtaining loans to pay salary and gratuity, saying the rumor could only come from opposition quarters.

“The government in the saddles in Oyo State, led by Engr. Seyi Makinde has seen the wide gap in development caused by infrastructural deficit and the best way to tackle this is to find ways around financing projects that will benefit the State’s economy and expand commercial scope by attracting businesses.

“The projects at the airport, the Ibadan Circular road and the dry port at Akinyele will certainly attract local and international businesses to come and establish in our State, it was a well thought-out plan.

“Governor Seyi Makinde is looking at the possibility of attracting major businesses from Lagos and Ogun States among others to come down to Oyo State, the capacity is here with those projects, agriculture will thrive and employment opportunities will be on spiral scale.

“Those saying we want to use the loans for recurrent expenditure are those confounded by the possibility of the State government to pay salary as at when due and its resolve to pay the backlog of gratuities inherited from past administration.

“Do not blame them, it is left to us to prove nay sayers wrong, the governor promised to deliver all these when he was campaigning and today, he is doing just that.”

The Commissioner called on the people of the State to have faith in the administration’s policy and programmes as they were the outcome of the core need assessment inquiry from stakeholders for development.

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