Oyo Assembly Approves Makinde’s €55m French Facility For Statewide Health Reforms

The Oyo State House of Assembly has granted concurrent approval to the request by Governor Seyi Makinde for a €55 million loan facility from the French Treasury to execute the Oyo State Healthcare Project VI.

The letter conveying the request, dated 11th July 2025, was read at the plenary on the floor of the House by the Speaker, Rt. Hon. Adebo Ogundoyin, during Monday’s legislative sitting.

According to the letter, the loan approved by the State Executive Council is aimed at repositioning and strengthening healthcare delivery in the state through infrastructural upgrades and service improvement.

The concessional facility comes with a remarkably low interest rate of 0.0092% per annum, a seven year tenure, and a moratorium period of 18 months.

Governor Makinde, in the correspondence, noted that the facility is intended to support critical healthcare reforms and infrastructure development across the State.

Following the reading of the letter, lawmakers harped on the need for improved health infrastructure and services in Oyo State, expressing strong support for the initiative.

The Speaker, Rt. Hon. Adebo Ogundoyin, commended the Governor’s consistent focus on Infrastructural development and called for timely implementation once the loan is accessed.

“This Assembly is committed to supporting efforts that directly improve the lives of our citizens. Healthcare is a priority, and the terms of this facility are extremely favourable,” RT Hon. Ogundoyin said before putting the request to a voice vote.

The Assembly urged relevant Ministries, Departments, and Agencies to ensure transparency, due process, and accountability in the disbursement and execution of the project.