Ogun State Government is to renegotiate the $350 million loan package, secured from the World Bank by the immediate past Amosun administration.

Governor Dapo Abiodun says, he will lead top officials of his administration this week to meet a team of World Bank officials for the renegotiation of the loan.

Abiodun spoke at a meeting with farmers at the June 12 Cultural Centre, Abeokuta.

The Governor explains the planned renegotiation, follows the failure of the Amosun administration to meet some of the pre-condition to access the $350 million loan package.

He says, the State Government is about to lose $100 million from the loan, following the failure of the Amosun administration to pay counterpart fund required for accessing the loan for infrastructural development projects.