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Ogun commends W/Bank on loan, assures judicious utilisation

The Ogun State Government has commended the World Bank for the approval, on Tuesday, of a $250 million funding support for execution of some socio-economic projects in the state.

The Governor of the state, Dapo Abiodun, expressed appreciation to the Breton Woods institution’s board for considering the state among the beneficiaries of the $22.2bn loan approved for six key projects in Nigeria.

The projects include improving immunisation, enabling a stronger business environment for the private sector, expanding the digital economy to promote job creation and increasing public and private sector capacity on governance and social and environmental safeguards.

The Special Adviser to the Governor (Public Communication), Remmy Hazzan, in a statement made available to Daily Trust in Abeokuta on Wednesday, hinted that the World Bank approval was the outcome of various discussions between the governor and officials of the bank. While noting that the facility came later than expected due to “slow utilisation of the initial preparatory allowance of $5m”, Hazzan confirmed that the state government “has already created an office within the governor’s office to accommodate officials of the bank who would be involved in project execution, disbursement of the fund and monitoring implementation.”

He assured that, “The governor expressed gratitude to the World Bank for the confidence reposed in his administration, even as he promised to ensure efficient utilisation of the fund.”

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