Edo Assembly Approves N100 Billion Loan for Infrastructure Projects

Favour Osaigbovo

The Edo State House of Assembly has approved a N100 billion loan request by Governor Monday Okpebholo to fast-track infrastructure development across the state.

The approval was granted during Tuesday’s plenary session after a formal request from the executive arm. The request, contained in a letter dated June 23, 2025, was signed by the Secretary to the State Government (SSG), Barr. Umar Musa Ikhilor, and addressed to the Speaker of the House, Hon. Blessing Agbebaku.

According to the letter titled “Request for Legislative Approval of the Sum of N100 Billion from the First Bank of Nigeria Plc for the Operation of Contractors Finance Facility for the Development of Various Infrastructural Projects in Edo State”, the loan will be obtained from First Bank of Nigeria Plc under a contractors’ finance facility.

The funds are expected to be channelled into key infrastructural projects spread across the three senatorial districts of the state, including road construction, healthcare centres, schools, housing schemes, and water supply systems.

During deliberations at the committee of the whole, lawmakers unanimously endorsed the request, citing the urgency of addressing infrastructure gaps, completing inherited projects, and initiating new developments aligned with the present administration’s priorities.

Legislators also pointed out that areas such as Benin City, Auchi, Uromi, Ekpoma, Iguobazuwa, and Irrua stand to benefit significantly in terms of enhanced connectivity and improved amenities. Some described the loan as a timely response to challenges posed by the rainy season, particularly road rehabilitation and flood control efforts.

Speaker Agbebaku praised the executive for its foresight and emphasized the Assembly’s commitment to supporting initiatives that promote development