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Remove impediments to accessing funds at capital market, LG Chairman urges FG


ILORIN – Chairman of llorin East Local Government Area in Kwara State, Alhaji Abdulateef Okandeji, has appealed to the Federal Government to remove “obnoxious’’ regulations impeding access to loans at the capital market.

He made the call while speaking with newsmen on Friday in Ilorin.

Okandeji, who is also the Chairman, Association of Local Governments of Nigeria (ALGON), said that removal of the difficult conditions for obtaining funds from the market would promote business activities in the economy.

According to him, the rigorous process of accessing loans through the Debt Management Office (DMO) is affecting both state and local governments in carrying out capital projects.

He said that local government councils were determined to develop their areas as contemplated by the 1999 Constitution.

He said that in Kwara, the joint account between the state government and the councils had helped in the development of communities.

On calls for scrapping of local government, the chairman said that rather than scrap it, it should be strengthened to carry out its constitutional responsibility of addressing the needs of the grassroots.

“Rather than scrap the councils, more should be created,” he said and described plans by Kwara Government to create local development committees as “good step in the right direction.” (NAN)

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