Governor Akeredolu had earlier sought the support of the lawmakers to borrow the funds to facilitate some infrastructural development in the state.
Members of the Ondo State House of Assembly have approved the request of Governor Rotimi Akeredolu to access a N50bn bond.
Governor Akeredolu had earlier sought the support of the lawmakers to borrow the funds to facilitate some infrastructural development in the state.
The Ondo House of Assembly gave the approval on Thursday during their sitting in Akure, the state capital.
Chairman, House Committee on Finance and Appropriation, Sunday Olajide, disclosed this to journalists.
Olajide said the bond will come in two tranches, adding that N30bn will be accessed now.
Also, the lawmakers passed a bill seeking to amend the retirement age for workers in the state’s tertiary institutions.
SaharaReporters gathered that those to benefit from the amendment include workers in state-owned tertiary institutions, teaching hospital, research institutes, and colleges of education.