Home News Makinde: Ajimobi Borrowed N130bn In 7 Years, Oyo Is Nigeria’s 5th Most...

Makinde: Ajimobi Borrowed N130bn In 7 Years, Oyo Is Nigeria’s 5th Most Indebted State


A gubernatorial aspirant on the platform of the Peoples Democratic Party, PDP, in Oyo state, Engr Seyi Makinde has begged Govenor Abiola Ajimobi to offset the record debt profile which he incurred in 8 years before the gubernatorial election coming up in 6 months time. 

A statement issued by the Seyi Makinde organisation and signed by Prince Dotun Oyelade, alleged that a total of N130bn has so far been borrowed by the current administration out of which N69bn was borrowed in 24 calendar months. 

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The statement quoted the Central Bank of Nigeria’s Public Finance Statistics Volume 27 as its witness. 

Makinde, who said that this reckless and unprecedented loan has made Oyo state the 5th most indebted state in the Federation and the largest loan ever acquired by any single Administration since the establishment of Old Oyo state 42 years ago. 

Makinde said that with six months to the next gubernatorial election which will usher in another regime and with no clear sign that Ajimobi is planning to even begin to offset the record debt, “the pertinent question people are asking is that with so many neglects in critical sectors like Agriculture,  education   health, tertiary institutions in comatose for several months now and primary school teachers owed over 27bn in unpaid pensions among others, what projects  in specific and quantifiable terms has the government spent N130bn on?”

Makinde said that the general financial drift of the state is typified by the announcement in April this year that the state government has awarded contract worth N5.7bn for the renovation of secondary schools and that the bulk of the renovation will be completed in two weeks.

“How billions of naira will be expended within two weeks became clear when up till now, no meaningful project was carried out,” the statement added.

Makinde urged the people to ask those aspirants who say they want to continue with the legacy of Ajimobi if the legacy of unbridled debt profile and neglect of critical sector is what they want to perpetrate?

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