The Oyo State Executive Council, on Tuesday, approved the issuance of a N100 billion private bond tagged “Oyo Prosperity Bond” to facilitate the execution of priority projects that will further drive economic development in the State. The project funding, Wasiu explained, would be in the form of Alternative Project Funding Approach (APFA), which allows for Public-Private Partnership for funding of infrastructural projects in the State. The party wondered what informed government’s decision seeking to finance projects like the Ibadan Circular Road by directly seeking for loan. Aside from the Ibadan Circular Road Project, the Oyo APC regarded the state government seeking to commit part of the Bond to financing the Ibadan Airport as laughable. According to the Oyo APC, the Makinde government should rather have lobbied the Federal Government through FAAN to upgrade the Alakia Airport.

Source: Nigerian Tribune July 22, 2020 16:52 UTC