The request was made known through the letter dated 22nd November 2016 and was directed to the speaker kwara state house of Assembly.
Reading the letter of the governor The speaker, Doctor Ali Ahmad said sequel to the sharp drop in the federal Allocation Receipt, with continuous fall in global oil prices has made the government at all levels unable to perform its basic Obligations.
The letter said in view of the current challenges federal government embarked on the review of Nigeria economic policy and resolved to to the diversification from mono-economy oil to more diversified economy in Agriculture and Solid Minerals Development as catalyst.
He said the government plan has translated into a commercial Agriculture credit scheme CASC window which is aimed at boosting agricultural activities across the federation with a view to guarantee food security but also to be placed for robust foreign exchange eaner.
He said Union Bank plc has offered to give commercial Agriculture credit scheme facility of one billion Naira through CBN to the state government.
The letter added that the facility has the tenure of, 36 months which is secure with the state government FAAC account domiciled in sterling bank plc.
The governor urged the house to give quick approval due to the urgency of the loan at this time of recession.
The House unanimously agreed to consider the letter in the next legislative day.
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