By Julius Alabi
Akure
The Ondo State House of Assembly has approved that the state government could access a N50 billion bond to facilitate infrastructural development as requested by the governor, Oluwarotimi Akeredolu.
The Chairman, House Committee on Finance and Appropriation, Mr Sunday Olajide, said that in view of the current infrastructural strides of the Governor Oluwarotimi Akeredolu-led government, it became imperative for the House to lend its support for government to successfully implement the projects.
Other lawmakers who spoke on the request noted that the bond when accessed would accelerate the development of the state.
The lawmakers unanimously support the move for the state government to access the bond.
The bond would come in two tranches of N30 billion to be accessed now while the balance of N20 billion naira would be accessed later.
Meanwhile, the Ondo State House of Assembly has passed a bill seeking an amendment to the retirement age for workers in the state tertiary institutions.
An Executive bill to the effect had been forwarded to the Ondo State House of Assembly for approval.
The Executive bill sought to put the retirement age of tertiary institutions workers in the Professorial cadre at 75 years while other category of workers, teaching and non- teaching would have to retire at the age of 65.
Speaking in support of the amendment at a plenary held at parliamentary chamber and presided over by the Speaker, Mr Bamidele Oleyelogun, the lawmakers noted the invaluable contributions of University lecturers to the development of humanity.
According to them, the amendment has been long overdue since their counterparts at the Federal level were already enjoying the benefit.
In a unanimous voice votes, members agreed that the law should take effect from January 2019.
Beneficiaries of the amended law include the state Owned Universities, Polytechnics, Monotechnics, Teaching Hospitals, Research Institutes, and Colleges of Education.