BENIN CITY – The Edo House of Assembly has approved the restructuring of the Edo state government outstanding bank loans into federal government bonds.
The approval was contained in the resolution passed by the house in Benin.
This was sequel to the request for approval to restructure the Edo government bank loans sent to the house by Governor Adams Oshiomhole.
Oshiomhole said the request was sent to the house following the approval of the Debt Management Office to assist government regain fiscal stability.
Leading the debate for the request, the Majority leader, Foly Ogedengbe commended the initiative and called for the immediate passage of the resolution.
Mr Ojo Asein, member representing (APC Owan West) who also supported the passage of the resolution said the federal government decision was in the best interest of the country.
The house unanimously supported the passage of the resolution and passed it.
Hon. Victor Edoror, Edo State House of Assembly Speaker
