The Oyo State House of Assembly has approved the request of Governor Seyi Makinde for the issuance of a two hundred billion naira Infrastructure Bond to refinance existing short-term loans used in financing critical infrastructure projects across the state.

The approval followed the consideration of a formal request transmitted to the House by Governor Makinde and read during plenary by the Speaker, Mr. Adebo Ogundoyin.

The letter sought the concurrence of the Assembly to enable the State Government raise the bond from the capital market as part of efforts to restructure its debt profile and ensure the sustainability of ongoing developmental projects.

In the letter, the Governor explained that the proposed bond would be used to refinance short-term loans earlier obtained to fund strategic infrastructure projects across Oyo State.

According to him, the move is aimed at sustaining economic growth, improving service delivery and strengthening the state’s fiscal position.

Also during the plenary, the lawmakers called for intensified rescue operations to secure the release of victims abducted during the recent bandit attack on schools and communities in Oriire Local Government Area.

The resolution followed a motion of urgent public importance moved by the lawmaker representing Oriire State Constituency, Mr. Johnson Ogundele.

Mr. Ogundele expressed concern over the recurring attacks in the area, noting that Oriire had witnessed increasing bandit activities since January, including the attack on the National Park Service office at Oloka village where five forest guards were killed.

He called on the Ministry of Education, Science and Technology and the State Universal Basic Education Board (SUBEB) to immediately conduct security audits of schools located near forests and border settlements across the state.