Ogun State government is going to the capital market in 2020 to raise 75 billion naira.
The proposed 75 billionaire bond is part of packages to finance the 2020 449.9 billion naira budget bill now before the state house of assembly.
The state governor’s chief economic adviser, Dapo Okubadejo, who made this known while appearing on a Rockcity Fm programme:’Daybreak show’ said the terms of the proposed bond was favorable.
Okubadejo explained that Dapo Abiodun did not opt for bond because bank loans were short term and interests very high.
According to him, banks and investors have shown interests in the proposed bond.
The chief Economic Adviser also confirmed that the Abiodun administration received refund of 8 billion naira in august from the presidency as part of refund of over 100 Billionnaira spent by the state government on rehabilitation and reconstruction of some of the federal roads in the state.
He also confirmed that the Amosun administration fully paid contractors on some of the ongoing road projects it left behind for Abiodun Administration.
On the new national minimum wage, the chief economic adviser could not say when the state government would call the organized labour for negotiations.