National assembly approves kogis request for 100m loan from afdb

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The National Assembly has approved the request of the Kogi State Government for a loan of $100 million from the African Development Bank (AfDB). This loan is intended to support the state's development projects, particularly in the areas of infrastructure, healthcare, and education.

The approval was given after the Senate Committee on Local and Foreign Loans, led by Senator Clifford Ordia, presented a report on the loan request to the Senate. The committee recommended the approval of the loan, citing the state's commitment to utilizing the funds for developmental purposes.

The Kogi State Government had earlier requested the loan from the AfDB to finance its development projects, which include the construction of roads, bridges, and other infrastructure. The loan is expected to be repaid over a period of 20 years, with a 10-year grace period.

This development is seen as a positive step towards the development of Kogi State, as it will provide the state with the necessary funds to implement its development projects. It is also expected to create jobs and stimulate economic growth in the state.

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