JUST IN: Oyo Assembly approves Makinde’s €55m loan for statewide health reforms

By Adejayan Gbenga –

The Oyo State House of Assembly has approved Governor Seyi Makinde’s request to access a €55 million loan facility from the French Treasury to fund the Oyo State Healthcare Project VI.

The approval was granted during a plenary session held on Monday, following the reading of a letter from the governor, dated July 11, 2025, by the Speaker of the House, Rt. Hon. Adebo Ogundoyin.

According to the letter, the concessional loan comes with favourable terms, including a minimal interest rate of 0.0092% per annum, a repayment period of seven years, and an 18-month moratorium.

The facility is aimed at significantly improving the state’s healthcare infrastructure and enhancing service delivery across various sectors.

Details later…