By Adeyinka Adeniran
Oyo State House of Assembly on Monday granted concurrent approval to a €55 million concessional loan facility requested by Governor Seyi Makinde.
The move, according to the lawmakers is expected to drastically transform Oyo State’s healthcare sector.
The facility, sourced through the French Treasury, is designated for the execution of the Oyo State Healthcare Project VI.
The letter conveying the request, dated 11th July 2025, was formally read on the floor of the House by the Speaker, Rt. Hon. Adebo Ogundoyin, during Monday’s plenary session.
According to the letter, the State Executive Council had earlier approved the loan, which carries a strikingly low interest rate of 0.0092% per annum, a tenure of 40 years (480 months), and a moratorium period of 15 years (180 months).
According to the letter, Governor Makinde noted that the funding will support comprehensive reforms aimed at repositioning healthcare delivery statewide.
Some of the key components of the approved facility include: establishment of public-health-relevant services including emergency treatment, trauma management, and intensive neonatal care; full digitalization of the healthcare system for streamlined interaction between providers and clients; renovation and equipment of Primary Health Care Centres and Secondary Health Care Facilities and reorganization of health insurance structures under OYSHIA, (Oyo State’s Health Insurance Agency).
According to the request, the healthcare facilities scheduled for Intervention are: Flagship Development at Ring Road State Hospital; Advanced Medicine Centre (ICU, Renal Dialysis); Maternal and Child Health Unit and Emergency Medicine Unit, including a Cath Lab and call centre
For the Maternal and Child Health: General Hospitals at Iseyin, Eruwa, Kishi, Aremo (equipment only), Oni Memorial Children Hospital and Adeoyo Maternity Hospital (Neonatal Unit) are selected.
For Emergency Medicine Upgrades: Saki Specialist Hospital, General Hospitals at Igbora, Ogbomoso, Moniya, and Oyo as well as Jericho Specialist Hospital (equipment installation) will benefit.
Dental and Maxillofacial Centres at Dugbe, Ring Road, Eruwa, Iseyin, Ogbomoso, Oyo, Saki, Moniya, Aremo and Apata will be accommodated in the facility.
Following the reading of the letter, legislators in their contributions commended the administration’s bold initiative, emphasizing that the need for improved access to quality health services in Oyo State is long overdue.
In his remarks, the Speaker, Rt. Hon. Ogundoyin praised Governor Makinde’s proactive focus on infrastructure and called for expedited implementation.
“This Assembly is committed to supporting efforts that directly improve the lives of our citizens. Healthcare is a priority, and the terms of this facility are extremely favourable,” he stated before calling a voice vote, which resulted in unanimous approval.
The House also directed relevant Ministries, Departments, and Agencies to uphold transparency, due process, and fiscal accountability in managing the funds and executing the healthcare project.
