Debt Burden May Collapse Oyo State Before May 2027, APC Raises Alarm As Makinde Takes Fresh N300Billion Loan
The All Progressives Congress APC in Oyo state has raised the alarm over fresh N300 billion allegedly obtained by Governor Seyi Makinde stating that the development signalled a problematic future for the economy of the state as well as the welfare of the people.
Sources informed that some members of the state House of Assembly were recalled from their annual recess by the Speaker, Hon. Debo Ogundoyin, to urgently reconvene on August 16 and 26, 2023 for the purpose of giving an approval to the request of Gov. Makinde as this was surreptitiously done without the knowledge of the four members who got elected to the Legislative Chamber on the platform of the APC.
In a statement issued on Thursday and made available to journalists in Ibadan by its Publicity Secretary, Olawale Sadare, APC threatened to mobilize citizens from all the nooks and crannies of the state to stage a violence-free protest against the administration of Gov. Makinde to protest the unabated profligacy, lack of transparency and gross abuse of the Due Process law of the land which his government is well known for.
“Now that Gov. Makinde has convinced the whole world that he has no good plan for the good people of the Pacesetter state with regards to their future, it is very important for all well-meaning individuals from within and outside the state to rise up to the occasion and take necessary steps to stop the heist which he has foisted on the people since 2019.
“The fresh N300Billion Loan which the Hon. Debo Ogundoyin-led Legislative House rubberstamped for collection by the governor on August 19, 2025 was the third in the series in 2025 alone because the same governor got a N200billion loan in March and another N110billion French Treasury Concessional loan in July making it a total of N610billion in a year that is just eight months-old. We should not forget that the same governor has got over N180billion in allocations from Abuja and internally generated revenue in 2025 but the masses cannot feel the direct impact of all the huge resources in their life.
“A few days ago, Gov. Hope Uzodimma of Imo State hinged his decision to increase the minimum wage for workers in his state to N104,000 on the availability of more funds from Abuja but in Oyo state, it is more money and more borrowing while the ubiquitous hijack and sale of private and public properties still continue unabated. Another question in the mouth of the citizens bothers on the inability of the governor to showcase what he has done with the over N900billion which he has obtained since he became governor in 2019.
“The saddest part is the willing tool of sleaze in the hand of Gov. Makinde which the Speaker of the State House of Assembly and a few of his colleagues have turned themselves into. We can advise that the good people of the state should remain calm and endure the remaining 20 months of Makinde administration but we are not sure of what the direct impact of unnecessary debt burden would be on the life of an average citizen and resident before and after May, 2027.” Sadare lamented.
