# Oyo Assembly approves separate ₦100bn loan and ₦300bn refinancing

> Oyo lawmakers approved a ₦100 billion infrastructure facility and a separate ₦300 billion refinancing facility; disbursement was not reported.

- **Source date:** 2026-10-21
- **Original source:** [The Guardian Nigeria](https://guardian.ng/news/oyo-assembly-approves-n100bn-for-infrastructure/)
- **Reading time:** 1 min read
- **Language:** English
- **URL:** https://voltformer.com/news/ng-oyo-infrastructure-loan-approval-20261021
- **Markdown:** https://voltformer.com/news/ng-oyo-infrastructure-loan-approval-20261021.md

The Oyo State House of Assembly approved a ₦100 billion UBA loan facility for ongoing and other critical state infrastructure projects. It separately approved a ₦300 billion UBA facility to refinance an existing contractors’ finance facility from Access Bank, which carried a 26% rate; the proposed UBA rate is 22%, a four-percentage-point reduction.

The new ₦100 billion facility carries a 22% interest rate subject to review, a 48-month tenor and a 3-month moratorium on principal and interest. The Guardian reported that the approvals followed a request from Governor Seyi Makinde. The measures are approved facilities; the report did not say that funds had been disbursed.

[The Guardian Nigeria](https://guardian.ng/news/oyo-assembly-approves-n100bn-for-infrastructure/)

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