Ekiti govt to take fresh N2.5bn loan,  to spend N281.9m on new Isan Ekiti College of Agric

Ekiti State Government has concluded arrangements to secure N2.5bn loan, with N2bn out of the loan earmarked for the provision of facility Health care sector in the State while the remaining N500m will be used to finance “working capital requirements, such as the purchase of medical  consumables, drugs, and other expenditure of the state medical facilities.”

The Commissioner for Information and Values Orientation, Aare Muyiwa Olumilua, made this known after the State Executive Council third virtual meeting since
the outbreak of the COVID-19 pandemic, on Friday.

The commissioner said Memorandum on the N2.5 billion credit support facility from the Central Bank of  Nigeria (CBN) was approved at the meeting.

Also approved was the sum of N281, 928,000.00 for the procurement of laboratory equipment for the Ekiti State College of Agriculture and Technology, Isan-Ekiti. The contractors were given two months to deliver on the contract, and a 25 per cent mobilization payment was approved.

The College is billed to resume for studies later in the year.

It should be recalled that during his first tenure as governor,  Dr Kayode Fayemi scrapped two universities in Ekiti State,  insisting that the State had no money to fund more than one higher institution. The universities were The University of Education, Ikere Ekiti and University of Science and Technology, Ifaki Ekiti.

The Executive Council also approved a draft supplementary budget estimate of N91, 128,996,482.01.

It is made up of Recurrent Expenditure of
N56, 557,958,763.00, and a capital expenditure of N34, 571,037,719.01.

Also approved was the appointment of Prince Iluku Ojo Oluwadamilare Omobire as the Olomu of Ilomu-Ekiti and Prince Adekunle Adeagbo of the Adifagbade Ruling House, Ile-Iyaba, of Otun-Ekiti as the new Oore of Otun-Ekiti, following their nomination by the Kingmakers.