The Edo State House of Assembly has approved Governor Monday Okpebholo’s request to secure a ₦100 billion loan from First Bank of Nigeria Plc. The facility is intended for financing infrastructural development projects across the state.
The request was formally presented via a letter dated June 23, 2025, addressed to Speaker Blessing Agbebaku and signed by Secretary to the State Government, Umar Musa Ikhilor.
During Tuesday’s plenary, the letter was read aloud by the Clerk of the House, Alhaja Yahya Omoigba.
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Governor Okpebholo explained that the loan will fund multiple infrastructural projects to boost economic development, improve transportation, create jobs, and elevate the overall quality of life for Edo residents.
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He emphasized that the initiative is part of his administration’s five-point agenda, driven by the SHINE development framework.
“The Edo State Government desires to reposition the state through massive infrastructural upgrade and urban renewal,” the governor stated.
The approval comes after a State Executive Council meeting held on June 17, 2025, where the loan was extensively deliberated and unanimously endorsed.
According to Okpebholo, the funds will be disbursed directly to nominated contractors handling the development initiatives.
In his appeal to lawmakers, he wrote: “May I respectfully request that necessary approval be given by the Honourable House of Assembly for the state government to go ahead and obtain the contractor loan facility of ₦100 billion from First Bank Plc.”
The approved facility marks a significant step in Governor Okpebholo’s drive to deliver on his infrastructural campaign promises, with expectations high among stakeholders that the projects will have far-reaching economic benefits.
