Akwa Ibom State House of Assembly has on Thursday plenary approved N7Billion loan request sent in by the governor of the state, Udom Emmanuel.
Out of the N7Billion loan request, N2billion will go for Agricultural Credit scheme while N5billion for the development of Housing Estates in the state.
In a two separate messages forwarded to the House and read by the Speaker during plenary on Thursday, the Governor requested the House to authorize the state government to obtain N2billion for the CBN Commercial Agricultural Credit scheme and N5billion for Housing Estates in the State.
He said that the CBN Commercial Agricultural Credit scheme would boost the cultivation of Cocoa, coconut and maize in the state.
He further said that, the CBN credit scheme is a very good window for state governments and corporate bodies to access at relatively low interest rates.
Similarly, the House also approved the Governor’s request for another Loan of N5Billion from Family Home Funds to finance the development of 650 affordable housing units for Civil Servants in the state at Ibiono Ibom and Itu Local Government Areas of the state respectively.
This, he said is an establishment of the Federal Government to spearhead the development of Housing estates in the Country as well as provide funding to state governments and other agencies of government for housing projects.
Meanwhile, the Akwa Ibom State Information and Communication Technology Development Agency Bill, 2020 also passed through second reading during plenary and was committed to the House Committee on Science and Technology for in-depth study and scrutiny.
In another development, the state House of Assembly has ordered an investigation into the impeachment of Abasiama Etukakpan, as Vice Chairman of Abak Local Government Council, following petitions received through its Committee on Judiciary, Human Rights and Public Petitions.