OGUN GOVT SET TO ACHIEVE TARGET FOR 2020

Ogun State government has assured the people of the State that its set programmes and targets for the year 2020 would be achieved, despite the Covid-19 pandemic effect on the State.

The Special Adviser to the Governor on Media and Public Communications, Hon. Remmy Hazzan who gave the assurance during a chat with newsmen in Abeokuta said, there would be no significant hindrance to achieving the plans and programmes of government, aimed at making life meaningful for its citizenry.

According to him, “part of our efforts to cushion the effect of the global pandemic on our economy and to ensure that government’s programmes are not affected was what necessitated the recent N250 billion bond request”.

Justifying the reason for the loan request from bond market, the Special Adviser said, ‘’if we continue to use receipts from the federation account and that from internally generated revenue chiefly for debt servicing and salary payment, we may not have anything left for our developmental projects, hence the need to opt for the bond”.

“We are not taking the money at once. It would be in three tranches and for every tranche, we would also still get the concurrence of the Ogun State House of Assembly, as touching on specific projects. The interest rate is also quite reasonable, he added.

Hon. Hazzan further revealed that, a maximum of N100 billion only, can be accessed yearly as the bond has been structured into the State’s 3-year Medium Term Expenditure Framework, while assuring the people of the State of its judicious use.