The Kwara State House of Assembly has passed the state debt securities issuance amendment bill 2014 into law.

The bill, which was sent to the House by the state governor, Alhaji AbdulFatah Ahmed in August 2014 seeks the establishment of a Debt Management Office (DMO) in the state.

The bill will monitor, evaluate and supervise loans taken by the state government with a view of ensuring their judicious use.

The motion for the third reading and final passage of the bill was moved by the Majority Leader of the House, Hon. AbdulGaniyu AbdulKareem and seconded by Hon. Abraham Ashaolu (APC, Oke-Ero constituency.

The House passed the bill into law after adopting the report of its Committee on Finance and Appropriation which presentation took place for two plenary sessions

The acting chairman of the committee, Hon. Raliat Adifa (APC, Lanwa Ejidongari constituency while presenting the committee's report said all stakeholders invited including two commissioners and state Accountant General and Auditor General supported the passage of the bill.

The Clerk of the House, Mr. Oyetunde Oyeniyi later read the bill for the third time which was consequently passed into law.

Deputy Speaker of the House, Hon. Gana Yissa who presided over Wednesday plenary directed the Clerk to prepare a clean copy of the bill for Governor Ahmed assent.