ONDO ASSEMBLY APPROVES #50 BILLION BOND
The Ondo state House of Assembly on Thursday approved that the state government should access a fifty billion naira bond to facilitate infrastructural development as requested by Governor Oluwarotimi Akeredolu.
Speaking on the request by the state government, Chairman House Committee on Finance and Appropriation, Mr Sunday Olajide noted that in view of the current Infrastructural strides of the Governor Oluwarotimi Akeredolu led government, it became imperative for the House to lend it’s support for government to successfully implement the projects.
Other lawmakers who spoke on the request noted that the bond when accessed would accelerate the development of the state.
The Lawmakers unanimously consent to the move that the state government proceed at accessing the bond for the state
The bond would come in two tranches of thirty billion naira to be accessed now while the balance of twenty billion naira would be accessed later.
Meanwhile, the Ondo State House of Assembly has passed a bill seeking an amendment to the retirement age for workers in state tertiary institutions.
An Executive bill to the effect had been forwarded to the Ondo State House of Assembly for approval.
The Executive bill sought to put the retirement age of tertiary institutions workers in the Professorial cadre at 75 years while other category of workers, teaching and non- teaching would have to retire at the age of 65.
Speaking in support of the amendment at a plenary held at parliamentary chamber and presided over by the Speaker, Mr Bamidele Oleyelogun, the lawmakers noted the invaluable contributions of University lecturers to the development of humanity.
According to them, the amendment has been long overdue since their counterparts at the Federal level were already enjoying the benefit.
In a unanimous voice votes, members agreed that the law should take effect from January 2019.
Beneficiaries of the amended law include the state Owned Universities, Polytechnics, Monotechnics, Teaching Hospitals, Research Institutes, and Colleges of Education.
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